Colombian Stocks: BVC, Davivienda Decline; Petrominerales Gains

The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 11:36 a.m. New York time.

The IGBC Index rose 1.1 percent to 13,346.66, while the Colcap Index gained 0.8 percent to 1,616.32.

Bolsa de Valores de Colombia (BVC) SA, the operator of Colombia’s main stock exchange, fell 1.3 percent to 37.5 pesos. BVC and Bolsa de Valores de Lima SA said Aug. 26 they will cancel merger plans, without offering further details.

The two bourses will focus on the integration of stock trading between Colombia, Peru and Chile, known as MILA, according to an e-mailed statement. MILA trading started in May.

Banco Davivienda SA (PFDAVVND) , Colombia’s third-biggest bank, fell 1.9 percent to 20,900 pesos. Stockholders increased the number of shares that can be sold in offerings to 96 million, according to a regulatory filing Aug. 26. The bank offered 26 million shares in a sale last year.

Petrominerales Ltd. (PMGC CB), a Calgary-based oil company with production and exploration in Colombia, rose 5.4 percent to 53,900 pesos, the highest since it started trading Aug. 4. Oil rose for a third day in New York, increasing with equities on optimism that the economy will keep expanding, and a report that U.S. consumer spending rose in July.

To contact the reporter on this story: Blake Schmidt in Bogota at bschmidt16@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net