Bloomberg News

Colombian Stock Movers: Avianca Taca, Almacenes Exito, ETB Gain

February 20, 2012

Feb. 20 (Bloomberg) -- The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of the close of trading in Bogota.

The IGBC Index gained 0.5 percent to 14,646.81, while the Colcap Index rose 0.2 percent to 1,714.26.

Almacenes Exito SA (EXITO CB), Colombia’s biggest publicly traded retailer, rose 1.6 percent, the most in three weeks, to 25,400 pesos. Colombia concluded the first round of negotiations for an accord to deepen trade with Uruguay last week, and a second round will take place in April, according to a Feb. 17 statement from Colombia’s trade ministry.

Exito last year agreed to purchase majority stakes in Uruguayan retailers Disco and Devoto for $746 million from French supermarket operator Casino Guichard-Perrachon SA.

Avianca Taca Holding SA (PFAVTA CB), the owner of Colombia’s largest airline, rose 0.2 percent to 4,405 pesos.

Operations have returned to normal after the carrier had to cancel flights over four days because of labor actions by air- traffic controllers seeking better working conditions. The company said in an e-mailed statement that the government and the controllers reached an agreement last night.

Empresa de Telecomunicaciones de Bogota SA (ETB CB), the phone company serving Colombia’s capital, rose the most in a month after brokerage Valores Bancolombia said shares may almost double in price this year, according to an e-mailed report today.

ETB, as the company is known, rose 8.4 percent to 516 pesos, the biggest gain since Jan. 12.

--Editors: Brendan Walsh, Richard Richtmyer

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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