Bloomberg News

Colombia Stock Movers: Banco Davivienda, Avianca, Canacol Energy

May 15, 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 0.7 percent to 14,581.17, while the Colcap Index (COLCAP) decreased 0.4 percent to 1,733.67.

Avianca Taca Holding SA (PFAVTA) , the owner of Colombia’s biggest airline, gained 3.3 percent to 3,790 pesos. Avianca Taca said consolidated first-quarter profit rose 41 percent from the prior year to 62.8 billion pesos ($35 million), according to a regulatory filing yesterday.

Canacol Energy Ltd. (CNEC) , the Calgary-based oil company that operates fields in Colombia, was unchanged at 1,240 pesos after earlier rising as much as 2 percent. Net income for the fiscal third quarter ended March 31 was $3.7 million compared with a net loss of $852,000 in the year-earlier period, according to a regulatory filing. Production averaged 13,163 barrels of oil per day compared with 9,958 the prior year, according to the filing.

Banco Davivienda SA (PFDAVVND) , Colombia’s third-biggest bank, gained 0.3 percent to 20,940 pesos. Standard & Poor’s changed its outlook on Banco Davivienda’s BBB- credit rating to stable from CreditWatch negative. The bank’s planned acquisition of HSBC Holdings Plc’s units in Costa Rica, El Salvador and Honduras had triggered the negative outlook.

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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