Bloomberg News

Colombian Stock Movers: Grupo Nutresa, Ecopetrol Were Active

March 26, 2012

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of the close of trading.

The IGBC Index (IGBC) gained 1 percent to 15,109.53, while the Colcap Index increased 0.9 percent to 1,747.80.

Grupo Nutresa SA (NUTRESA) (NUTRESA CB) decreased 0.3 percent to 21,500 pesos, after earlier dropping as much as 0.9 percent. The target price for Colombia’s biggest food producer was cut to 26,000 pesos from 27,000 pesos by analysts including Pedro Herrera at HSBC Holdings Plc in a research report today, citing a drop in the value of Nutresa’s stake in related companies.

Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, gained 1.7 percent to 5,450 pesos. Ecopetrol reached a record high on a closing basis as investors buy shares ahead of the company’s “very attractive” dividend payment to minority shareholders starting April 25, Juan David Pineros, an analyst at brokerage Interbolsa SA, said in a telephone interview.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

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


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