Bloomberg News

Colombia Stocks: Carvajal Empaques, Pacific Rubiales, Canacol

June 13, 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) was little changed at 13,899.07 while the Colcap Index (COLCAP) fell 0.2 percent to 1,653.02.

Carvajal Empaques SA (PFCARPAK) , the packaging unit of Colombian holding company Carvajal SA, rose 4.6 percent to 5,050 pesos. Carvajal Empaques was rated buy today in new coverage from Helm Bank SA’s brokerage unit. The target price is 5,900 pesos per share.

Oil producers fell as crude tumbled to an eight-month low. Crude oil for July delivery dropped to $82.62 a barrel in New York, the lowest settlement since Oct. 6.

Pacific Rubiales Energy Corp. (PRE) , which operates the country’s largest oil field, fell 0.3 percent to 43,100 pesos. Petrominerales Ltd. (PMG) , a Calgary-based oil company that operates in the Andean region, slid 1.7 percent to 21,200 pesos. Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in Colombia, dropped 0.4 percent to pesos 996 pesos.

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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