Business news for Tue, 18 Dec 2007 & with word benchmark. 3 news.

NEW YORK (MarketWatch) -- Standard and Poor's raised its foreign currency credit rating on Chile to A+ from A on Tuesday, citing the Chilean economy's increasing resilience to potential adverse shocks, which is very important given its high dependence on commodities. The outlook is stable. "Chile has been able to manage the upward part of the cycle by strengthening its credit profile significantly, creating the conditions to endure a period of higher instability better than it had in the past," said Standard & Poor's credit analyst Sebastian Briozzo in a statement. "Its economy is more resilient than ever before. This greater resilience--and the greater predictability of future economic performance it provides--is more consistent with an 'A+' rating." In Santiago, the benchmark IPSA index rose 1.2% in intraday trading.

Benchmark indexes sustained triple-digit losses yesterday as America's spiralling subprime mortgage woes weighed heavily on investors, prompting some strategists to suggest the traditional Santa Claus rally may not happen this year.

A plunge in New York manufacturing activity, another record low reading on home builder sentiment, and a comment by a Federal Reserve Bank...