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News for 'SQM' - (DJ Chile Stks Close Slightly Higher, Led By SQM Gains On BHP Talk)

By Carolina Pica

Of DOW JONES NEWSWIRES

SANTIAGO (Dow Jones)--Chile's blue-chip Ipsa index closed slightly higher Monday, pulled up by gains in fertilizer and chemical producer SQM (SQM) on talk that global miner BHP Billiton Ltd. (BHP) could buy out one of its controlling shareholders.

The Ipsa closed 0.3% higher at 3457.32. Volume fell to 66.3 billion Chilean pesos ($121.7 million) from 84.6 billion in the previous session on Friday.

One of the companies that controls SQM is Canada's Potash Corp. of Saskatchewan Inc. (POT), which according to a Merrill Lynch report, could be a likely takeover target for BHP, which has several copper mines in Chile, traders said. SQM jumped 2.2% on the talk to close at CLP21,400.00 and was the most actively traded stock of the session.

Consumer-related and retail shares extended their gains from the previous week on renewed expectations that domestic demand is recovering, pulling the local economy out of a recession, traders said.