Bloomberg News

Colombia Stock Movers: Canacol, Mineros, Coltejer, Fabricato

November 17, 2011

Nov. 17 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:58 a.m. local time.

The IGBC Index rose 0.8 percent to 12,821.65, while the Colcap Index gained 0.4 percent to 1,577.99.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in South America, rose 3.4 percent to 1,380 pesos. The company said it has agreements to acquire 67 percent of Carrao Energy Ltd. in exchange for as many as 106 million of Canacol’s ordinary shares in a transaction that will close Nov. 29, according to a regulatory filing yesterday.

Mineros SA (MINEROS CB), Colombia’s largest gold producer, fell 1.1 percent to 5,300 pesos. Gold sank in London and New York as commodities slumped after Fitch Ratings said U.S. banks face a “serious risk” from Europe’s debt woes.

Textile makers rose as economists forecast a 5.9 percent increase in September industrial output from a year ago, according to the median estimate of 11 analysts surveyed by Bloomberg. Colombia’s government statistics agency will release September industrial output tomorrow at 5 p.m. local time.

Coltejer SA (COLTEJ CB), a Colombian clothing maker and exporter, jumped 4.3 percent to 0.97 peso.

Fabricato SA (FABRI CB), Colombia’s biggest textile maker, rose 0.7 percent to 76 pesos.

--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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