Bloomberg News

Colombian Stocks: Davivienda, Cementos Argos, Isagen, Sura

May 31, 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) rose 1.3 percent to 14,586.57, paring its first monthly drop of the year to 4.1 percent, while the Colcap Index (COLCAP) increased 2 percent to 1,726.55.

Banco Davivienda SA (PFDAVVND) , Isagen SA (ISAGEN) and Grupo de Inversiones Suramericana SA (PFGRSURA CB) rose on their last day of trading before MSCI Inc. will add the stocks to its Colombia and Emerging Markets Latin America (MXLA) indexes. MSCI announced the plans earlier this month.

Davivienda, Colombia’s third-biggest bank, rose 2.2 percent to 22,480 pesos, bringing its monthly gain to 10 percent, the best performance on the benchmark IGBC this month.

Isagen, a Colombian energy company, advanced 3.4 percent to 2,550 pesos.

Grupo Sura, Latin America’s largest private pension-fund manager, increased 0.9 percent to 33,700.

Inversiones Argos SA (INVARGOS) , the majority shareholder of Cementos Argos, increased 5.4 percent to 17,100 pesos. Investors are optimistic the parent company will make productive use of the assets it’s receiving in a spinoff by Cementos Argos, said Mauricio Hernandez, an analyst at Corredores Asociados SA, 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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