Colombian Stock Movers: Avianca Taca, Banco Davivienda, BVC
The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:49 a.m. local time.
The IGBC Index (IGBC) gained 0.2 percent to 13,572.65, while the Colcap Index fell 0.2 percent to 1,601.46.
Avianca Taca Holding SA (PFAVTA) (PFAVTA CB), the owner of Colombia’s largest airline, rose 3.5 percent to 3,855 pesos, a two-month high. The company gained for a second day after saying it had 1.9 million passengers in December, a 12 percent gain from a year ago, according to an e-mailed statement yesterday.
Banco Davivienda SA (PFDVVND) (PFDAVVND CB), Colombia’s third-biggest bank, fell 0.1 percent to 20,400 pesos. HSBC Holdings Plc said yesterday it will sell banking operations in Costa Rica, El Salvador and Honduras to Davivienda for $801 million in cash.
Davivienda may be “chasing” competitors Bancolombia SA and Grupo Aval Acciones y Valores into a region where “economies are small and not exactly growing at a prolific rate,” according to an e-mailed note from Celfin Capital today.
The shares have gained 9 percent since Jan. 19, the day before the company said in a regulatory filing that profit rose 19 percent in 2011 from the year before to 28.5 billion pesos.
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