Bloomberg News

Colombian Stock Movers: Enka Falls; Canacol Energy Advances

February 13, 2012

Feb. 13 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:52 a.m. local time.

The IGBC Index gained 0.7 percent to 14,178.24 while the Colcap Index rose 0.7 percent to 1,669.32.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in Colombia, gained 3.9 percent to 1,600 pesos. Fourth-quarter revenue increased 227 percent 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 1.7 percent to 8.45 pesos, a one-month low. The company had a fourth-quarter net loss of 12.5 billion pesos ($7 million) on lower financial performance, higher taxes, and increases in prices for raw materials, according to a Feb. 10 regulatory filing.

--Editors: Glenn Kalinoski, Brendan Walsh

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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