Bloomberg News

Colombian Stock Movers: Bolsa de Valores, Pacific Rubiales

April 19, 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) dropped 0.8 percent to 14,998.22, while the Colcap Index decreased 0.7 percent to 1,750.70.

Bolsa de Valores de Colombia SA (BVC CB), the operator of the country’s main stock exchange, increased 0.3 percent to 34.60 pesos, the highest level on a closing basis in a month.

The addition of Mexico’s main bourse to the Andean integrated market, known as Mila, is getting closer and may more than double the average daily volume in the market, said Jose Fernando Restrepo, the head analyst at Interbolsa SA in Medellin, in an e-mail message to clients.

Colombian Trade Minister Sergio Diaz-Granados said he would speak with Mexico’s Economic Ministry about the regulatory steps in joining Mila in a meeting this week, according to an article on Dinero magazine’s website yesterday.

Pacific Rubiales Energy Corp. (PREC) , the Toronto-based oil producer that operates fields in Colombia, gained 0.6 percent to 50,900 pesos. The company’s annual growth in oil production will continue to attract investors even after the concession for the Rubiales field expires, Raymond James analysts led by Rafi Khouri said in a research note today.

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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