Chile bourse up, led by commodity shares, peso firm

By Alexia Vlahos

SANTIAGO, June 9 (Reuters) - Chilean stocks were slightly firmer in Tuesday afternoon trade, as a rise in commodity shares helped offset a bout of profit-taking after recent gains, while the peso closed firmer, traders said.

The blue-chip IPSA index .IPSA was up 0.31 percent at 3,210 while the all-market IGPA index .IGPA rose 0.24 percent to 15,248. The bourse on Friday closed at its highest since December 2007 but has since pulled back slightly.

"Most commodity stocks are rising today, and that is pulling the market along a bit," said Roberto Guzman, head of investment at the FIT Research brokerage in Santiago.

The IPSA, which is up around 35 percent year-to-date, rose around 16 percent in May, when it posted its biggest gain in a single month since January 1994.

Soquimich SQM_pb.SN, Chile's leading exporter of fertilizer and one of the world's biggest producers of iodine and lithium, was among the most heavily-traded stocks, up 3.49 percent at 21,400 pesos.

Shares in Steelmaker CAP CAP.SN rose 1.65 percent to 14,110 pesos a share, while shares in investment house Oro Blanco ORO.SN, which indirectly holds a controlling stake in Soquimich, was up 1.24 percent to 9 pesos each after a brokerage auctioned a stake of $259 million worth of shares.

Leading private bank Santander Chile STG.SN rose 1.38 percent to 23.55 pesos, while shares in Chile's leading airline LAN LAN.SN fell 0.53 percent to 6,560 pesos.

Regional energy group Enersis ENE.SN edged up 0.05 percent to 192.50 pesos a share, while electricity generator Endesa Chile END.SN fell 0.84 percent to 826 pesos.

Guzman said the market was also looking ahead to next week's central bank interest rate decision.

Financial analysts are expecting the central bank to cut its benchmark interest rate by 50 basis points next week to a record low of 0.75 percent, according to a poll published by the central bank on Tuesday.

Chile's peso CLP=CL closed 0.53 percent firmer at 565.50/566.00 per U.S. dollar compared with Monday's close of 568.50/569.00.

"The local exchange rate was in line with what was going on abroad, with most markets positive and the dollar weakening against major currencies," said one foreign exchange dealer.

The peso is up 13.4 percent against the dollar year-to-date after slumping 22.3 percent in 2008. (Additional reporting by Manuel Farias and Froilan Romero; Editing by James Dalgleish)