Colombia Stocks: Ecopetrol, Fabricato, Mineros, Rubiales
The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York time.
The IGBC Index fell 0.7 percent to 14,163.89, while the Colcap Index dropped 0.4 percent to 1,700.03.
Banco Popular SA (POPULA) fell 7.7 percent to 600 pesos. Luis Carlos Sarmiento, chairman of Grupo Aval Acciones y Valores SA (AVAL CB), said Colombia’s biggest financial holding company will have “absolute control” of Popular once it buys a majority stake in the bank, according to Dinero magazine’s website.
Conconcreto SA (CONCONC CB) rose 1 percent to 1,565 pesos. The Colombian construction company and Salfacorp SA, Chile’s largest engineering and construction firm, agreed to pay $32 million for 80 percent of Panamanian builder Intercoastal Marine Inc. It’s a “valuable deal in terms of the presence and knowledge that both parts gain,” according to a report by brokerage Bolsa y Renta.
Mineros SA (MINEROS) , Colombia’s largest gold-mining company, fell 1.6 percent to 6,300 pesos. The Sintramienergetica union voted on May 14 to walk off the job, Mineros said today in a statement to the Colombia’s securities regulator. Negotiators from the company and the union both are willing to continue talks, according to the statement.
Textiles Fabricato SA (FABRI CB), Colombia’s biggest textile maker, fell 2.9 percent to 51 pesos. Pending U.S. free- trade accords with South Korea, Colombia and Panama won’t be submitted to Congress until lawmakers agree to renew trade- adjustment assistance for workers, an Obama administration official said.
Ecopetrol SA (ECOPETL) , Colombia’s biggest oil company, fell 1.2 percent to 3,825 pesos.
Pacific Rubiales (PREC CB) dropped 1.5 percent to 50,080 pesos.
To contact the reporter on this story: Blake Schmidt in Bogota at email@example.com
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.