U.S. Sells All Remaining Shares of General Motors
Colombian Stock Movers: Almacenes Exito, Canacol, Fabricato
The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 1:08 p.m. New York time.
The IGBC Index rose 0.5 percent to 13,910.46 while the Colcap Index gained 0.3 percent to 1,685.95.
Almacenes Exito SA (EXITO) , Colombia’s biggest publicly traded retailer, rose 0.5 percent to 24,100 pesos. Colombia’s retail sales rose 11.8 percent in July from a year earlier, the national statistics agency said yesterday on its website.
Canacol Energy Ltd. (CNEC) , the Calgary-based oil company with fields in the South American country, fell 2.3 percent to 1,500 pesos, the lowest intraday level since the stock began trading in July 2010. The company may be hitting new lows because the market is waiting for news on its exploration projects in the Caguan-Putumayo basin, said Juan David Pineros, an oil sector analyst for Interbolsa SA, Colombia’s biggest brokerage.
The company plans to release new information in the first week in October, Carolina Orozco, head of investor relations for Canacol in Colombia, said Sept. 14.
Fabricato SA (FABRI CB), Colombia’s biggest textile maker, rose 0.7 percent to 73.5 pesos. The U.S. Senate is set to begin debate today on trade preference and worker-aid programs that would clear the way for President Barack Obama to send Congress three pending free-trade agreements, including one with Colombia. Senator Harry Reid of Nevada, the Democratic leader, plans to move ahead with legislation that would revive tariff preferences for goods from developing nations after lawmakers voted 84-8 last night to limit debate, the first step in the process of acting on the measures.
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