Colombian Stocks: Aval, Bancolombia, Cementos Argos, Ecopetrol
The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of noon New York time.
The IGBC Index increased 1 percent to 15,146.84, while the Colcap Index added 1.1 percent to 1,782.39.
Financial shares rose on speculation European governments will step up measures to control the region’s financial crisis.
Bancolombia SA (PFBCOLO CB), the nation’s biggest lender, jumped after six days of declines, increasing 2.7 percent to 27,920 pesos, the biggest increase since Dec. 13.
Corp. Financiera Colombiana (CORFICOL CB), a Colombian financial-services and holding company, advanced 2 percent to 35,500 pesos.
Grupo Aval Acciones y Valores SA (AVAL CB), Colombia’s biggest financial holding company, increased 2.5 percent to 1,660 pesos.
Cementos Argos SA (CEMARGOS CB) increased 0.7 percent to 11,240 pesos. Colombia’s largest cement maker was rated new “hold” at Celfin Capital by equity analyst Jairo Agudelo Restrepo. The 12-month target price is 12,900 pesos per share.
Ecopetrol SA (ECOPETL CB) rose 2.7 percent to 3,945 pesos. The government plans to sell a 5 percent to 7 percent stake in the company, less than the previous estimate for as much as 10 percent, to fund natural disaster rebuilding after the heaviest rains in 30 years, Finance Minister Juan Carlos Echeverry said in a conference call with investors today.
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