Colombia Stock Movers: Ecopetrol, Tablemac, Almacenes Exito
The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. local time.
The IGBC Index (IGBC) fell 0.1 percent to 12,934.52, while the Colcap Index gained 0.3 percent to 1,606.48.
Ecopetrol SA (ECOPETL) , Colombia’s state-owned oil company, climbed 1.1 percent to 4,330 pesos. Oil output in the South American country will rise to 1 million barrels a day this month and will likely reach 1.2 million barrels a day in 2015, according to an e-mailed statement today by the Colombian Oil Association.
Tableros y Maderas de Caldas SA (TABLEMA) rose 1 percent to 10.6 pesos. The wood products maker said in a Dec. 30 statement that its Tablemac MDF unit received tax-free zone status for 15 years. The tax break is “good news” and may have led some investors to change the price at which they value the shares, said Juan Nicolas Pardo, an analyst at Valores Bancolombia SA.
Almacenes Exito SA (EXITO) , the country’s biggest publicly-traded retailer, gained 1.1 percent to 26,280 pesos. Exito rose for a third day after the stock exchange said in a Jan. 2 statement that Exito’s weighting in the Colcap Index rose to 6.3 percent from 4.7 percent.
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