Chilean stocks inch higher; peso weakens
By Aaron Nelsen
SANTIAGO, Sept 17 (Reuters) - Chilean stocks rose on Thursday, lifted by gains in commodity and utility shares, while the peso closed weaker on a drop in copper prices during a short trading session ahead of Chile's independence day celebration.
Chile's blue-chip IPSA stock index .IPSA climbed 0.74 percent at 3,297.17 and the all-market IGPA .IGPA closed 0.59 percent higher to 15,528.78.
"Historically volumes are lower when the market closes early before a holiday," said Ximena Garcia, head of research for Tanner brokerage.
"In general, the companies that are rising are in the commodities and retail sectors," he said.
Soquimich SQM_pb.SN, Chile's leading exporter of fertilizer and the world's biggest producer of iodine and lithium, rose 1.69 percent to 20,948 pesos per share.
Chile-based regional energy group Enersis ENE.SN, advanced 1.97 percent to 201.20 pesos.
Chilean markets will be closed on Friday in observance of the independence day holiday.
A day after the peso CLP=CL rose to near six-week highs, it closed Thursday's session down 0.33 percent at 546.50/547.00 per dollar compared to Wednesday's close of 544.70/545.00.
The peso has strengthened 17.29 percent against the dollar so far this year after slumping 22.3 percent in 2008.
The currency of the copper-producing nation is closely tied to the price of the metal on the London Metals Exchange. Copper for three months delivery in London ended at $6,385 a tonne, down slightly from Wednesday's final $6,415. (Reporting by Aaron Nelsen; Editing by Kenneth Barry)
