Chilean stocks rose on Friday, led by gains in power companies favoured by news over natural gas imports from Argentina, and by some retailers.
The IPSA index of 40 most liquid stocks rose 0.53 percent to 1,415.90 points, while the all-stocks IGPA index was up just 0.09 percent to 7,184.80.
Among the top gainers was No. 3 power generator Colbun, up 3.19 percent to 63 pesos per share. The share had dropped steeply in recent weeks due to cuts in supplies of natural gas from neighbouring Argentina, which is facing an energy crisis.
"This share was harshly punished because of the natural gas crisis, and today it's recovering some of that," said a trader, who asked not to be named.
Argentina this week reduced its cuts in natural gas to Chile. Many power plants in Chile depend on Argentina for natural gas.
Market heavyweight, Latin American power group Enersis, rose 1.37 percent to 73.50 pesos per share. Its American Depositary Receipt, traded in New York, rose 1.24 percent to $5.73.
Retailer Falabella, one of the biggest department stores in Chile, rose 3.42 percent to 1,140.00 pesos per share.
Traders and analysts said the outlook for higher interest rates both at home and abroad, as well as the global spike in oil prices would put downward pressure on Chilean stocks next week.
Chile imports almost all of its petroleum needs, and higher fuel prices will affect many Chilean companies, especially since the peso currency has weakened this year against the dollar.
"It's tough to separate the local stock market from the foreign ones because of uncertainty about US interest rates and higher fuel prices," said Cristian Moreno, head of research at Santander Investment Chile.
However, Moreno said, higher interest rates in Chile will come if the economy is very healthy, which is good news for financial results of many companies.