Bloomberg News

Colombia Stocks: Fabricato and Petrominerales Were Active

July 04, 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) increased 0.1 percent to 13,723.33 while the Colcap Index fell 0.2 percent to 1,666.75.

Fabricato SA (FABRI) , the largest publicly traded textile maker in Colombia, increased 0.5 percent to 93 pesos, the highest close on record. Shares have gained in line with an increase in repurchase agreements, known as repos, as some investors use the contracts to leverage their positions, said Jairo Agudelo, an analyst at Celfin Capital in Medellin. Repos on Fabricato shares have a balance of 300 billion pesos ($169.8 million), the most out of any stock in Colombia, according to data compiled by the exchange.

Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, was unchanged at 5,030 pesos after falling as much as 1 percent. Ecopetrol said in an e-mailed statement that an attack on an oil well in southern Colombia killed five workers from contracting companies. Transport through the company’s Cano Limon Covenas pipeline is halted today following a separate assault, the company said in an e-mail.

Petrominerales Ltd. (PMGC) , a Calgary-based oil company that operates in the Andean region, declined 3.3 percent to 19,120 pesos as crude slid from the highest level in a month in New York.

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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