Colombia Stock Movers: Pacific Rubiales, Ecopetrol Were Active
The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as 4 p.m. local time.
The IGBC Index (IGBC) plunged 2.3 percent to 14,800.17, while the Colcap Index dropped 1.6 percent to 1,707.85.
Oil producers dropped as crude fell after the European Union offered to restart negotiations with Iran over its nuclear program.
Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, fell 1 percent to 5,180 pesos. Interbolsa SA, Colombia’s biggest brokerage, cut its recommendation on Ecopetrol today to “sell” from “buy,” saying the stock’s rally this year “has run ahead of the company’s fundamentals.”
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