Chile Soccer Victory a Win for Wine and Beer Sales

Chile’s win over Spain in soccer’s world cup yesterday has done more than simply lift the spirits of a nation – it has boosted the stock exchange as well.

Within hours of Chile’s famous victory, Bloomberg reported that shares in Viña Concha y Toro, the country’s largest winemaker, and Compañia de las Cervecerias Unidas (CCU), the country’s largest brewer (which also has a strong wine portfolio), had surged, buoyed up by the promise of increased alcohol sales as fans celebrate.

Concha y Toro shares lifted by 3.4 percent on the result, while CCU’s shares rose by 3.2 percent, the biggest jump in nine months. The stocks led an overall rise of 1.1 percent on Chile’s benchmark Ipsa index.

While the final whistle confirmed a famous victory for Chile over its former colonial masters, it also marked the first time a defending world champion team had been eliminated from the competition after just two games.