Bloomberg News

Colombian Stock Movers: Mineros SA, Pacific Rubiales Energy

November 25, 2011

Nov. 25 (Bloomberg) -- The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. local time.

The IGBC Index rose 0.3 percent to 12,200.38 while the Colcap Index was little changed at 1,493.00.

Mineros SA (MINEROS CB), Colombia’s biggest gold producer, dropped 1.6 percent to 5,010 pesos, a two-year low.

Gold fell, declining for a second straight week, as a strengthening dollar eroded demand for the metal as an alternative investment.

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, rose 1.2 percent to 36,840 pesos.

PetroMagdalena Energy Corp., a Toronto-based oil and gas company with operations in Colombia, said it has reached an agreement to acquire an additional 32.5 percent stake in the Arrendajo block in Colombia’s Llanos basin from a Rubiales subsidiary, according to a statement yesterday on PetroMagdalena’s website.

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

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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