Bloomberg News

Colombian Stocks: Grupo de Inversiones Suramericana, Mineros

November 23, 2011

Nov. 23 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:46 a.m. local time.

The IGBC Index fell 2 percent to 12,212.94, while the Colcap Index declined 2.3 percent to 1,502.00.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s biggest bank, fell 2.7 percent to 30,600 pesos, the lowest intraday level since July 2010. The stock declined after Sura’s share sale came up short of its target of 3.9 trillion pesos ($2 billion), said Leonardo Rueda, an analyst at Serfinco. The company sold 3.5 trillion pesos.

Mineros SA (MINEROS CB), Colombia’s biggest gold producer, fell 4.2 percent to 5,030 pesos, a two-year low.

Gold declined for the second time in three days as a strengthening dollar muted demand for the precious metal as an alternative investment.

--Editors: Brendan Walsh, 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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