Bloomberg News

Colombian Stock Movers: Almacenes Exito, Fabricato, ETB Gain

October 24, 2011

Oct. 24 (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 0.7 percent to 13,603.34 while the Colcap Index gained 0.4 percent to 1,634.43.

Almacenes Exito SA (EXITO CB), Colombia’s biggest publicly- traded retailer, rose to a two-month high after the Medellin- based company said third-quarter profit rose 59 percent from a year ago to 58.8 billion pesos ($31 million). Shares gained 2.9 percent to 24,300 pesos, the highest since Aug. 24.

The company “is taking full advantage of the growing consumer confidence and high domestic demand to boost revenues and improve profit margins,” said an e-mailed report by Interbolsa SA analysts Jorge Zuniga and Jose Restrepo.

Empresa de Telecomunicaciones de Bogota SA (ETB CB), the phone company serving Colombia’s capital, rose 1.7 percent to 594 pesos. The company said mayors of Bogota, Cali and Medellin reached an agreement to “align forces” between ETB, Empresas Publicas de Medellin SA’s telecommunications unit, and Cali- based utility Emcali to strengthen their competitiveness, according to an Oct. 22 regulatory filing.

Fabricato SA (FABRI CB), Colombia’s biggest textile maker, advanced 2.1 percent to 71.5 pesos after President Barack Obama signed into law a free-trade agreement with Colombia Oct. 21.

--Editors: Glenn Kalinoski, Brendan Walsh

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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