Bloomberg News

Colombian Stock Movers: Almacenes Exito, Pacific Rubiales Energy

October 21, 2011

Oct. 21 (Bloomberg) -- The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 3 p.m. local time.

The IGBC Index rose 1.1 percent to 13,507.02 while the Colcap Index gained 0.5 percent to 1,627.27.

Almacenes Exito SA (EXITO CB), Colombia’s biggest publicly- traded retailer, rose 2.4 percent to 23,620 pesos, a one-month high. The company will release third-quarter results today after the market closes, spokeswoman Analucia Isaza said in an e-mail response.

The company said on July 25 its second-quarter profit rose 96 percent from a year ago to 65.6 billion pesos ($35 million).

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, rose 3 percent to 46,260 pesos.

Petrotech Engineering Ltd. said Rubiales has a total of 2.8 billion barrels of oil equivalent in its exploration blocks in Colombia, Peru and Guatemala, according to a resource evaluation report filed with Colombia’s securities regulator today.

Rubiales “is in the best position to have some of the most significant oil discoveries in Colombia in the short and medium term,” according to a report e-mailed by Juan David Pineros, an analyst at Interbolsa SA.

--Editors: Marie-France Han, Glenn J. Kalinoski

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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