Sanctions cause Chilean stocks to soar

Christian Pérez The price per share of these companies started decreasing by the end of June and through all July this year, after reaching the best results in 12 months during the previous quarter. However, the recent sanctions imposed by Russia are boosting salmon producers' shares once again. For example, AquaChile started last week with a share price of CLP$ 364.99 (~US$ 0.63) and reached CLP$ 360.00 (~US$ 0.62) on August 6th 2014, just before the Russian sanctions were imposed. One week later, the price per share for AquaChile was CLP$ 386.00 (~US$ 0.67) representing a 7.2 per cent increase in seven days. Likewise, Multiexport recorded a share price of CLP$ 120.72 (~US$ 0.21) on August 4th 2014, CLP$ 122.90 (~US$ 0.21) two days later, and CLP 132.07 (~US$ 0.23).yesterday, representing a 7.5 per cent increase in seven days. Australis Seafoods registered a similar situation. The company started last week with a share price of CLP$ 44.29 (~US$ 0.05) and reached CLP$ 47.99 (~US$ 0.62) yesterday, representing a 8.4 per cent increase in nine days. In addition, Blumar and Camanchaca, listed companies with both salmon producing and fishing divisions, recorded almost identical share price trends in the past two weeks.