Bloomberg News

Colombian Stock Movers: Canacol Energy Advances; Enka Declines

February 13, 2012

Feb. 13 (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 0.5 percent to 14,158.93 while the Colcap Index rose 0.7 percent to 1,669.47.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in Colombia, gained 5.2 percent, the most in a month, to 1,620 pesos. Fourth-quarter revenue more than tripled from a year ago to $55.2 million, according to a regulatory filing today. Canacol reported a fourth-quarter net loss of $2.4 million, compared to a net loss of $14.9 million the year before, the filing said.

Enka de Colombia SA (ENKA CB), a Medellin-based synthetic fibers producer, fell 3.7 percent, the most in six weeks, to a one-month low of 8.28 pesos. The company had a fourth-quarter net loss of 12.5 billion pesos ($7 million), citing lower financial returns, higher taxes and increases in prices for raw materials, according to a Feb. 10 regulatory filing.

--Editors: Glenn Kalinoski, David Papadopoulos

To contact the reporter on this story: Blake Schmidt in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

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