Bloomberg News

Colombian Stock Movers: Canacol, Avianca Taca, Almacenes Exito

September 28, 2011

Sept. 28 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 12:31 p.m. New York time.

The IGBC Index rose 0.2 percent to 12,993.67 while the Colcap Index gained 0.2 percent to 1,596.18.

Almacenes Exito SA (EXITO CB), Colombia’s biggest publicly traded retailer, rose 0.8 percent to 22,980 pesos. The company said yesterday it sold 2.5 trillion pesos ($1.3 billion) worth of shares. Exito had orders for 196.05 million shares and sold 114.27 million, the company said in a regulatory filing yesterday.

Avianca Taca Holding SA (PFAVTA CB), the owner of Colombia’s largest airline, rose 1.8 percent to 4,585 pesos.

The company will pay about $500 million for four Airbus SAS cargo planes as the owner of Colombia’s largest airline by sales positions itself for a U.S. approval of a free trade accord with the South American nation, Chief Executive Officer Fabio Villegas told reporters yesterday.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in South America, rose 1.2 percent to 12,80 pesos. Investors may be betting on positive results for the fiscal year ending June 2011, which the company is expected to publish today, said Valeria Marconi, analyst at Correval SA.

The company said its oil reserves increased 73 percent from a year ago at its Rancho Hermoso and Entrerrios fields, according to a regulatory filing yesterday.

“Surely the results will be good given the growing reserves,” Marconi said.

--Editors: Marie-France Han, Richard Richtmyer

EXITO CB PFAVTA CB CNEC CB

To contact the reporter on this story: Blake Schmidt in Bogota at bschmidt16@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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