Bloomberg News

Colombian Stock Movers: Avianca Taca Holding, Almacenes Exito

February 20, 2012

Feb. 20 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:25 a.m. New York time.

The IGBC Index gained 0.3 percent to 14,620.45 while the Colcap Index rose 0.3 percent to 1,716.01.

Almacenes Exito SA (EXITO CB), Colombia’s biggest publicly traded retailer, rose 0.8 percent to 25,200 pesos, poised for its biggest advance in two weeks. 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.

--Editors: Brendan Walsh, Richard Richtmyer

EXITO CB PFAVTA CB

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


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus