April 16, 2012 / 7:45 PM / 5 years ago

STXNEWS LATAM-Chile stocks dip; firms with Argentina ops fall

1 Min Read

Santiago's blue-chip IPSA stock index ended slightly lower, as companies with operations in Argentina fell after Argentine President Cristina Fernandez unveiled plans to seize control of leading energy company YPF, which is controlled by Spain's Repsol.

Losses were muted as U.S. markets rose after upbeat retail sales in March, and the IPSA closed down 0.18 percent .

Among companies with operations in Argentina, diversified retailer Cencosud lost 0.86 percent and flagship carrier LAN Airlines shed 1.2 percent.

"There's a reaction as more risk has been assigned to Argentina following the government's announcement," said Rodrigo Andaur of FIT Research.

Helping to level out the IPSA, heavily weighted fuel and forestry conglomerate Copec increased 3.11 percent and pulp and paper producer CMPC rose 2.10 percent.

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