Bloomberg News

Colombia Stocks: Bancolombia, Almacenes Exito, Pacific Rubiales

July 03, 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 2.1 percent to 13,703.17 while the Colcap Index increased 1.8 percent to 1,669.72. Colombian markets were closed for a holiday yesterday.

Bancolombia SA (BCOLO) , Colombia’s largest bank by market capitalization, gained 2.2 percent to 28,400 pesos. The local shares rose after the bank’s American Depositary Receipts (CIB:US) gained 4 percent yesterday and as investor concern eased that slowing credit growth will hurt earnings, said Felipe Toro, an analyst at Interbolsa SA.

Almacenes Exito SA (EXITO) , the largest publicly traded retailer in Colombia, rose 3.9 percent to 30,700 pesos. Exito will pay a quarterly dividend of 108.75 pesos a share, according to a March 16 statement. Starting tomorrow, shares will be traded without entitling the buyer to receive the dividend.

Oil producers rose as crude surged to a one-month high in New York.

Pacific Rubiales Energy Corp. (PRE) , which operates the country’s largest oil field, advanced 5 percent to 39,700 pesos. Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in Colombia, increased 2.5 percent to 830 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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Companies Mentioned

  • CIB
    (Bancolombia SA)
    • $62.99 USD
    • 0.58
    • 0.92%
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