March 1, 2012 / 9:12 PM / 6 years ago

STXNEWS LATAM-Chile stocks follow global bourses to 7-month high

Chile’s blue-chip IPSA stock index ended at a more than seven-month high, rising with global bourses in a session marked by the debut of shipper Vapores’ recently spun-off SAAM unit.

Global stocks rose on Thursday as investors zeroed in on encouraging economic data and the European Central Bank’s second massive injection of cash.

The IPSA index ended a preliminary 0.53 percent higher, lifted in part by pulp and paper producer CMPC, whose shares increased 0.48 percent, and steel and iron ore producer CAP, which climbed 2.12 percent.

For its part, Vapores plummeted 51.6 percent after its former SAAM storage and logistics unit made its debut on the bourse. SAAM’s shares, which are not trading on the IPSA index, fell 10.29 percent from their opening price. (Reporting by Felipe Iturrieta)

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