Bloomberg News

Colombian Stocks: Empresa de Energia de Bogota, Fabricato Fall

February 21, 2012

Feb. 21 (Bloomberg) -- The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. Bogota time.

The IGBC Index fell 0.5 percent to 14,570.92 while the Colcap Index dropped 0.8 percent to 1,700.22.

Empresa de Energia de Bogota SA (EEB CB), Colombia’s second-biggest electricity distributor, fell 0.9 percent to 1,075 pesos.

The company said 2011 consolidated profit dropped 72 percent from a year ago to 305 billion pesos ($172 million). That was 41 percent less than brokerage Bolsa y Renta’s estimate, according to an e-mailed report from analysts including Juan Camilo Martinez.

Fabricato SA (FABRI CB), Colombia’s biggest textile maker, fell 1.1 percent to 89.5 pesos. The company is expected to report that fourth-quarter profit dropped from a year ago on higher cotton prices, Celfin Capital said in an e-mailed report today.

Enka de Colombia SA (ENKA CB), a Medellin-based synthetic fibers producer, rose 9.8 percent to 9.33 pesos. The shares have fallen 33 percent in the past year.

“It’s one of Colombia’s most punished stocks and now investors are taking advantage of a good moment in the market to buy something more speculative that could give them short-term returns,” said Santiago Melo, an analyst at Alianza Valores SA.

--Editors: Richard Richtmyer, 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


We Almost Lost the Nasdaq
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