Colombian Stocks: Helm Bank, Pacific Rubiales, Canacol Energy

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses, and prices are as of the close of trade.

The IGBC Index (IGBC) climbed 1.7 percent to 15,114.20 while the Colcap Index (COLCAP) advanced 0.9 percent to 1,755.43.

Helm Bank SA (PFBHELM) (PFBHELMB CB) jumped 15 percent to a record 531 pesos. The shares have surged on speculation the Colombian lender will be acquired after its controlling shareholder hired an investment bank to study options for its stake in the company.

Helm Corp., the holding company that controls Helm Bank, said in a filing yesterday that it hired Inverlink SA to “advise in the analysis of business alternatives for its investment” in the lender.

Oil producers rose following an increase in crude prices after the U.S. Energy Department said that fuel stockpiles declined and as a European Central Bank official signaled policy makers may act to stem the spread of the region’s debt crisis.

Pacific Rubiales Energy Corp. (PRE) , the Toronto-based oil producer that operates fields in Colombia, climbed 5.9 percent to 50,900 pesos.

Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in Colombia, jumped 15 percent to 1,535 pesos.

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.