Colombia Stocks: Argos, Conconcreto, Enka, Fabricato Rise
The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 11:44 a.m. New York time.
The IGBC Index rose 0.3 percent to 14,280.20, while the Colcap Index rose 0.2 percent to 1,717.03.
Ecopetrol SA (ECOPETL) , Colombia’s biggest oil company, rose 0.7 percent to 3,885 pesos after Finance Minister Juan Carlos Echeverry said the government expects to begin its sale of a stake in the oil company at year-end.
The government this month told Ecopetrol it planned to temporarily withdraw from congress its proposal for the sale to correct procedural problems.
Construction companies rose after Colombia granted licenses for 2.2 million square meters of construction in March, a 79 percent increase from a year ago, the national statistics agency said on its website late yesterday.
Conconcreto SA (CONCONC CB), a Colombian construction company, rose 1.3 percent to 1,605 pesos.
Cementos Argos SA (CEMARGOS) , Colombia’s biggest cement maker, rose 1.4 percent to 11,240 pesos.
Textiles rose after Trade Minister Sergio Diaz Granados said the Obama administration’s demand for extended retraining assistance for American workers who lose jobs to foreign competition will not slow debate of a trade agreement with the U.S., the daily Colombiano reported.
Textiles Fabricato SA (FABRI CB), Colombia’s biggest textile maker, rose 3.1 percent to 50.5 pesos.
Enka de Colombia SA (ENKA) , a Medellin-based synthetic fibers producer, rose 0.8 percent to 13.4 pesos.
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