Colombian Stocks: Suramericana, Grupo Nutresa, Pacific Rubiales
The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 11:03 a.m. local time.
The IGBC Index fell 1.5 percent to 12,477.15, while the Colcap Index declined 1.4 percent to 1,541.2.
Grupo de Inversiones Suramericana SA (GRUPOSUR) , the parent company of Colombia’s largest bank, fell 0.1 percent to 31,340 pesos, after earlier rising as much as 0.3 percent.
The company said Sociedades Bolivar SA will contribute as much as $400 million as a “co-investor” in its $3.9 billion purchase of Latin American assets of ING Groep NV, according to a regulatory filing Nov. 18. The company said Nov. 17 that the International Finance Corporation approved plans to invest as much as $200 million in the same acquisition.
Grupo Nutresa SA (NUTRESA CB), Colombia’s biggest food producer, fell 2.4 percent to 21,140 pesos, the lowest in three months. Colombia, the second-largest supplier of Arabica coffee beans, trimmed its forecast for production this year by 5.9 percent following rainstorms.
Output will slide to 8 million bags this year from 8.9 million bags last year, an official at Colombia’s National Federation of Coffee Growers, who asked not to be identified in accordance with federation policy, said today by phone. The cut is the second since Nov. 4.
Pacific Rubiales Energy Corp. (PREC) , the Toronto-based oil producer that operates fields in Colombia, fell 2.6 percent to 37,360 pesos, the lowest on a closing basis since March 2010.
Oil dropped for a third day in New York on signs that U.S. lawmakers won’t agree on cutting the budget deficit and amid concern that Europe’s debt crisis will send the region’s economy into a recession.
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