Shares rise following Universidad triumph

SANTIAGO - Shares in Chilean football club Universidad de Chile jumped on Monday while rival club Universidad Catolica's stock plunged, as their tournament final clash a day earlier played out on the stock market.

Universidad de Chile beat Catolica 4-1 in the final of the Apertura tournament, one of the country's most important championships, on Sunday.

"This is clearly to do with [Universidad de Chile's] future development," said Elizabeth Palma, an analyst with the Tanner brokerage in Santiago.

"There will be advertising contracts, sales of players, or even purchases of more players to add to the value of the team."

Shares of Azul Azul, the company that administers Universidad de Chile, rose more than 13 percent in early trading before easing to a 2.17% gain at 470 pesos a share.

Shares in Cruzados, which manages Universidad Catolica, were down 5.53 percent at 205 pesos each after earlier falling as much as 17 percent.