Bloomberg News

Colombian Stock Movers: Grupo Suramericana, Pacific Rubiales

December 09, 2011

Dec. 9 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:11 a.m. local time. Local markets were closed yesterday for a holiday.

The IGBC Index fell 0.5 percent to 12,814.47, while the Colcap Index declined 0.3 percent to 1,571.08.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s biggest bank, rose 1.9 percent to 31,500 pesos. The company said Colombia’s securities regulator approved its acquisition of ING Groep NV’s assets, according to an e-mailed statement after markets closed Dec. 7.

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, fell 1.9 percent to 39,040 pesos. The stock in Bogota is catching up to the 5.4 percent drop yesterday for shares traded in Canada, said Maria Adelaida Velasquez, an oil analyst at Interbolsa SA.

Oil fluctuated as it headed for its biggest weekly decline since September after economic rescue measures by European leaders failed to ease concern that growth in the region is slowing.

--Editors: Brendan Walsh, Lester Pimentel

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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