santiago chile stock market price victory conservative presidential candidate sebastian pinera even though progressive candidates could form alliance december runoff traders analysts say ipsa stock market index surge 27 percent year track best year since 2010 spur rebound price top-export copper poll show pinera ahead race pinera wealthy businessman supporter free-market policies expect come first wide margin november first-round vote unlikely win absolute majority would result close runoff lead progressive candidate majority leave center say kenneth bunker political scientist universidad central de chile pinera victory depend division within leave recent gfk adimark poll show pinera consolidate support country political right lead 34 percent vote center-left senator alejandro guillier second 16 percent well ahead several candidates promise continue president michelle bachelet socially progressive policies hard-left candidate beatriz sanchez propose billions dollars new tax mine company third 15 percent campaign officially begin last week guillier appeal unity say radio interview would share policy platform rival leave try align position one doubt second round together guillier say rally chile remain one latin america business-friendly countries public debt grow fall copper price hit government revenue bachelet critics say prioritize growth last month top economic officials resign part government rejection 2.5 billion copper iron project environmental ground investors particularly attentive candidates proposals relate mine chile important industry guillier pinera pledge streamline mine permit process though guillier suggest modify free-trade accord promote domestic mineral process banner year emerge market ipsa outpace regional peer brazil bovespa index surge 24 percent peru lead index 20 percent colombia colcap index percent argentina merval 49 percent surge industrial raw materials sectors lead chile market gain surge 55 41 percent year date respectively lithium miner sociedad quimica minera de chile sa rise 77 percent past months ship firm compania sud americana de vapores sa 97 percent recent client note credit suisse j.p. morgan say so-called pinera effect pass might time traders take profit wait election result hugo rubio president brokerage btg pactual chile say pinera loss would cause double-digit drop stock market though full extent would depend candidate risk market seem alive stage say edward glossop emerge market economist capital economics london risk downside chile left-wing candidates could form alliance threaten market rally