Chile stocks slip with U.S. markets, peso eases

SANTIAGO, April 8 (Reuters) - Chilean stocks slipped in mixed afternoon trade on Tuesday as U.S. markets fell after unexpectedly weak earnings, and the peso eased against the dollar.

The all-market IGPA index .IGPA edged down 0.16 percent to 13,631 points, while the blue-chip IPSA .IPSA slipped 0.31 percent to 2,937.

"Stocks are down in general. I'd say markets are worried because earnings performance is not meeting expectations," said Lorena Pizarro, head of research with brokerage Alfa.

U.S. stocks fell after weak housing data and a worse-than-expected quarterly performance by semiconductor companies.

The 40 blue chips on the Santiago exchange were about evenly divided between advancing and declining shares in afternoon trade, but raw materials continued to lead.

Fertilizer exporter SQM SQM_pb.SN (SQM.N: Quote, Profile, Research), also the world's largest producer of lithium and iodine, rose 1.38 percent, while steel and iron ore producer CAP CAP.SN advanced 1.02 percent.

Declines were led by regional retailer Falabella FAL.SN, as its shares fell 1.96 percent to 2,500 per share, and by retailer Cencosud CEN.SN, down 0.98 percent.

The central bank will hold its monthly monetary policy meeting on Thursday, where it is expected to hold its benchmark rate at the current 6.25 percent as it focuses on the weak dollar rather than on spiking domestic inflation.

The peso CHILJ <CLP=CL> fell 0.57 percent to end the session at 436.70/437.00 per dollar, compared with Monday's close at 434.20/434.50.

The peso has been trading near 10-year highs against the dollar on the widening gap between Chilean and U.S. interest rates and record trade surpluses on the back of higher prices for copper, Chile's leading export. (Reporting by Maria Jose Latorre; Writing by Lisa Yulkowski; Editing by James Dalgleish)