Bloomberg News

Colombia Stock Movers: Cementos Argos, Canacol, Grupo Sura

September 29, 2011

Sept. 29 (Bloomberg) -- The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York time.

The IGBC Index rose 0.4 percent to 12,933.41, while the Colcap Index added 1 percent to 1,602.97.

Colombia plans to spend $9 billion to $10 billion on infrastructure in 2012, up from $6 billion this year, Finance Minister Juan Carlos Echeverry said in an interview with Bloomberg Television today in London. The increase in expenditure will help protect Colombia from the potential impact of external crises, he said.

Cementos Argos SA (CEMARGOS CB), Colombia’s biggest cement maker, rose 2.6 percent to 10,960 pesos.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in South America, advanced 1.3 percent to 1,215 pesos. The company said in a Marketwire statement that total income jumped to $47.9 million in the three months ended June 30, compared with $7.4 million a year earlier.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s largest bank, rose 1.4 percent to 33,960 pesos. The company created a subsidiary in Madrid that will participate in its acquisition of the Latin American assets of ING Groep NV, it said in a regulatory filing late yesterday.

--With assistance from Marta Marino, Karen Eeuwens and Laura Price in London. Editors: Glenn J. Kalinoski, Marie-France Han

To contact the reporter on this story: Andrea Jaramillo in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

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