Chile stocks edge up, peso tumbles with copper

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SANTIAGO, March 20 (Reuters) - Chilean stocks closed moderately higher in light pre-holiday trade on Thursday and the peso tumbled for a second day against the dollar amid fears of a spreading U.S. credit crisis and lower prices for copper, Chile's principal export.

The all-market IGPA index .IGPA edged up 0.08 percent to 13,188.33, while the blue-chip IPSA index .IPSA gained 0.15 percent to 2,842.93.

"Ours is the only stock market in the region that's in positive territory, but just barely," said Lorena Pizarro, head of research with the Alfa brokerage. "The auction of Masisa stock is what's pushing the index higher. The rest is negligible."

The session's top gainer was forestry products manufacturer Masisa MSS.SN, the region's largest producer of wood panels. Its stock soared 5.09 percent after a 12 percent stake in the company was auctioned at above-market value.

GrupoNueva, controlling shareholder of Masisa, increased its stake to 65 percent from 53 percent after acquiring the block of 700 million shares valued at $180 million.

On the Santiago exchange, 18 blue-chip stocks fell, four were unchanged and the remaining 18 closed higher.

Trade was light as the market closed more than two hours early, at 2 p.m. (1700 GMT). Chile's stock and currency markets will be closed on Friday for the Easter holiday.

The peso CHILJ <CLP=CL> fell 2.42 percent to end the session at 449.40/449.70 per dollar, compared with Wednesday's close at 438.50/438.80, paring the peso's gain for the year to just under 10 percent.