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Chile peso, stocks fall with global markets

Mon Sep 15, 2008 10:01am EDT

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SANTIAGO, Sept 15 (Reuters) - Chilean stocks fell in early trade on Monday, as global markets tumbled on concerns about U.S. financial markets. The peso moderated losses after falling as far as 1.3 percent in opening trade.

Chile's blue-chip IPSA .IPSA fell 2.23 percent to 2,764 points in opening trade, while the all-market IGPA index .IGPA retreated 1.68 percent to 13,075 points.

Global markets slumped following news that one of the largest U.S. investment banks, Lehman Brothers LEH.N, had filed for bankruptcy protection.

Based on assets of about $639 billion at the time of the filing, Lehman surpassed WorldCom as the largest U.S. bankruptcy ever.

Chile's blue chips fell across sectors, with iron ore exporter CAP CAP.SN down 2.6 percent, electricity generator Endesa Chile END.SN (EOC.N) down 2.53 percent and fertilizer exporter SQM SQM_pb.SN sliding 4.6 percent.

The peso CHILJ CLP=CL moderated its loss to 1.08 percent at 534.80/534.50 per dollar, compared with 529.00/529.50 on Friday. (Reporting by Lisa YulkowskiEditing by Walker Simon, )



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