Bloomberg News

Colombian Stock Movers: Pacific Rubiales, Avianca Taca Holding

February 03, 2012

Feb. 3 (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 gained 0.3 percent to 13,954.58, while the Colcap Index was little changed at 1,643.43.

Avianca Taca Holding SA (PFAVTA CB), the owner of Colombia’s largest airline, rose 1.9 percent, the most in a week, to 3,790 pesos. The company increased its market share in Peru to 15 percent at the end of 2011, from 6 percent in September, with more domestic flights, the daily Portafolio reported without citing a source. Peruvian authorities have also approved the airline’s plans to increase flight frequency to and from Lima, the daily reported today.

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, rose 0.7 percent to 45,700 pesos after its Brazilian depositary receipts began trading yesterday on the Bovespa.

Colombia’s ministry of energy and mines said the country’s production rose to 941,000 barrels per day in January. Output increased from 840,000 barrels per day a year earlier, according to an e-mailed statement yesterday.

--Editors: Marie-France Han, 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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