Bloomberg News

Colombia Stock Movers: Canacol Energy, Grupo Suramericana

October 31, 2011

Oct. 31 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:43 a.m. local time.

The IGBC Index fell 1.2 percent to 13,359.71, while the Colcap Index declined 0.9 percent to 1,621.25.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in South America, fell 6.3 percent, the most in four weeks, to 1,275 pesos. The company said it is quitting Tamarin 1, the first of five wells it plans to drill in the Caguan-Putumayo basin, after the well showed only minimum signs of crude, according to a regulatory filing today.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s largest bank, fell 3.6 percent, the most in four weeks, to 32,680 pesos. The company said it will offer to sell 3.9 trillion pesos ($2.1 billion) of preferred shares in a sale that began today and ends Nov. 22, according to an e-mailed statement today. The company set the preferred price at 32,500 pesos.

--Editors: Richard Richtmyer, Marie-France Han

To contact the reporter on this story: Blake Schmidt in Bogota at

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

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