Chilean Stocks: Santander, Banco de Chile, Cencosud, CGE, SQM

By James Attwood

Oct. 14 (Bloomberg) -- The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses, and share prices are as of the 8:57 a.m. in New York.

The Ipsa index rose 5.6 percent to 2,497.11 after rallying 13 percent yesterday.

Banco Santander Chile (BSAN CC) rose 9 percent to 20.5 pesos, extending yesterday's 14 percent jump. Global financial stocks extended a rally as the U.S. injected $250 billion in banks and urged the lenders to use the funds to spur economic growth. Santander is Chile's biggest bank.

Banco de Chile (CHILE CC), the country's second-biggest bank, gained 9.2 percent to 33 pesos after yesterday's 16 percent rally.

Cencosud SA (CENCOSUD CC) gained 11 percent to 1,110 pesos, poised for a 28 percent two-day gain, the biggest since trading began in May 2004. Chile's biggest retailer was reiterated ``buy'' at Banco Santander SA, which said in a note to clients today that a planned sale of new shares may reduce the company's financial ``uncertainty.''

Cia. General de Eletricidad SA (CGE CC) rose 4.6 percent to 2,950 pesos, extending this week's gain to 23 percent. The Santiago-based electric generator and distribution company received permission yesterday from Chile's government environmental agency, Conama, to build its Nuble hydroelectric plant in the Biobio region, El Mercurio reported.

Sociedad Quimica y Minera de Chile SA (SQM/B CC) gained 13 percent to 13,100 pesos, poised for a 38 percent two-day jump, the biggest since Bloomberg records began in June 1994. Global crop and energy prices extended a rally, signaling higher demand for the fertilizers that Soquimich produces.

To contact the reporter on this story: James Attwood in Santiago at jattwood3@bloomberg.net;