Chile peso holds at 15-mo highs, shares fall

SANTIAGO Nov 11 (Reuters) - Chile's peso held at 15-month highs on Wednesday, inching slightly higher as local investors began closing U.S. dollar positions, while shares fell led by commodity and consumer stocks, traders said.

The peso CLP=CL firmed 0.04 percent to 507.00/507.50 per U.S. dollar, the strongest close since August 2008, compared to Tuesday's close of 507.20/507.50.

The market was unfazed by comments overnight by Central Bank President Jose De Gregorio, who warned the bank was closely monitoring a sharp peso rally and could intervene if it appreciates too far.

"These comments didn't influence the exchange rate," said a local trader, who asked that his name not be used.

The peso has gained 26.43 percent this year after sliding 22.3 percent in 2008 amid the worst of the global financial crisis.

Chile's blue-chip IPSA share index .IPSA fell 0.46 percent to close at 3,373.76 points while the all-market IGPA .IGPA closed 0.41 percent lower at 15,856.50.

"The dollar's continued weakness is not favorable for exporters in general," said William Baeza, a financial analyst with analyst Euroamerica Corredores brokerage. "In the case of (wine producer) Concha y Toro, which is eminently an exporter, the dollar's weakness is seen having a negative impact."

The consumer and commodity sectors led the day's broad losses, with declines of 2.06 percent and 1.21 percent, respectively.

Shares in Concha y Toro CHT.SN, Chile's leading wine exporter, slid 3.15 percent to 1,065 pesos. Shares in conglomerate Copec COP.SN, the most heavily weighted share on Chile's buorse, fell 0.83 percent to 7,400 pesos.

Limiting losses was Chilean retailer La Polar LAP.SN, climbing 1.76 percent to 2,660.1 pesos following the auction of a 10.8 percent stake in the company owned by the Bemberg family.

Rival Falabella FAL.SN surged 3.12 percent to 2,529.90 pesos a share.

Banco Santander Chile STG.SN, Chile's No.1 private bank, closed 0.87 percent higher at 30.31 pesos. On Tuesday, Santander, Spain's largest bank, made $7.63 billion through an initial public offering of its Brazilian unit after a greenshoe option was partially exercised. (Additional reporting by Froilan Romero and Maria Jose Latorre; Editing by Kenneth Barry)