Bloomberg News

Colombia Stock Movers: Bancolombia, Exito, Petrominerales

March 05, 2012

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 (IGBC) fell 0.4 percent to 15,152.57, while the Colcap Index dropped 0.3 percent to 1,735.25.

Bancolombia SA (BCOLO) , Colombia’s biggest lender, fell 0.4 percent to 27,880 pesos. Bancolombia expects “more moderate” loan growth in 2012 following rate increases by Colombia’s central bank, Chief Executive Officer Carlos Raul Yepes told reporters in Medellin today. The bank expects loan growth of 15 to 20 percent in 2012, down from 27 percent in 2011, he said.

Sales in hypermarkets and large stores in Colombia rose 6.7 percent in the fourth quarter from a year ago when they rose 14 percent, the national statistics agency said in a March 1 report.

Almacenes Exito SA (EXITO) , Colombia’s biggest publicly- traded retailer, fell 0.3 percent to 24,900 pesos.

Petrominerales Ltd. (PMGC) (PMGC CB), a Calgary-based company that explores for and produces oil in Colombia, fell 1.8 percent to 32,020 pesos. Total output declined to an average of 35,353 barrels a day in the fourth quarter from 37,124 barrels a day in the third quarter, the company said in a statement today.

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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