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Colombia Stock Movers: BMC, ISA Fall; Grupo Aval Gains

Nov. 16 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 11:17 a.m. local time.

The IGBC Index fell 0.4 percent to 12,770.56, while the Colcap Index slipped 0.1 percent to 1,578.32.

BMC Bolsa Mercantil de Colombia SA (BMC CB), a Bogota-based marketer of agricultural products and services, fell 6.9 percent to 2,515 pesos.

The company plans to close four branches in Medellin, Cali, Barranquilla and Manizales in a restructuring after “fundamental deficiencies” of the company’s previous administration, President Ivan Arroyave said in a regulatory filing yesterday. Arroyave, who was named President last month, said the changes are aimed at generating profits in 2012 after an expected net loss this year, according to the filing.

Grupo Aval Acciones y Valores SA (PFAVAL CB), Banco de Bogota’s parent company, rose 7.4 percent, the most intraday since Sept. 29, to 1,230 pesos.

The shares gained as funds tracking the MSCI Index adjusted their portfolios after the company’s preferred stock was added to the Index yesterday, according to a statement on the Index’s website.

Interconexion Electrica SA (ISA CB), a Colombian energy and roadway company, fell 1.4 percent to 11,660 pesos. The company said it will buy the stake it doesn’t already own in a Chilean company from Cintra Infraestructuras SA.

ISA, as the Colombian company is known, is buying the stake in Intervial Chile SA, which owns highway concessions, according to a statement yesterday on the website of Colombia’s securities regulator. The price will be disclosed when the purchase closes, according to the statement.

To contact the reporter on this story: Blake Schmidt in Bogota at bschmidt16@bloomberg.net

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

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