Bloomberg News

Colombia Stock Movers: Ecopetrol, Tablemac, Almacenes Exito

January 04, 2012

Jan. 4 (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 fell 0.1 percent to 12,934.52, while the Colcap Index gained 0.3 percent to 1,606.48.

Ecopetrol SA (ECOPETL CB), Colombia’s state-owned oil company, climbed 1.1 percent to 4,330 pesos. Oil output in the South American country will rise to 1 million barrels a day this month and will likely reach 1.2 million barrels a day in 2015, according to an e-mailed statement today by the Colombian Oil Association.

Tableros y Maderas de Caldas SA (TABLEMA CB) rose 1 percent to 10.6 pesos. The wood products maker said in a Dec. 30 statement that its Tablemac MDF unit received tax-free zone status for 15 years. The tax break is “good news” and may have led some investors to change the price at which they value the shares, said Juan Nicolas Pardo, an analyst at Valores Bancolombia SA.

Almacenes Exito SA (EXITO CB), the country’s biggest publicly-traded retailer, gained 1.1 percent to 26,280 pesos. Exito rose for a third day after the stock exchange said in a Jan. 2 statement that Exito’s weighting in the Colcap Index rose to 6.3 percent from 4.7 percent.

--Editor: Glenn J. Kalinoski

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus