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Colombian Stocks: Tableros & Maderas, Ecopetrol, Petrominerales

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Feb. 29 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:48 a.m. local time.

The IGBC Index rose 1.3 percent to 14,914.74, while the Colcap Index gained 0.7 percent to 1,719.97.

Tableros & Maderas de Caldas SA (TABLEMA CB) rose 1 percent to 10.3 pesos. The wood products maker’s 2011 sales rose 18 percent from a year ago to 109 billion pesos ($61.6 million), according to a regulatory filing. Profit fell 29 percent from a year ago to 7.1 billion pesos.

The company had costs related to construction of a medium-density fiberboard plant, and “once it starts running in May, the company will reflect a higher level of sales, and more stable cost structure,” Interbolsa SA analysts including Jorge Zuniga said an e-mailed report today. Interbolsa rates the stock a buy.

Oil companies advanced as crude gained as much as 0.8 percent in New York.

Ecopetrol SA (ECOPETL CB), Colombia’s largest oil company, rose 1.3 percent to 5,060 pesos, a record high.

Petrominerales Ltd. (PMGC CB), a Calgary-based company that explores for and produces oil in Colombia, gained 3.2 percent to 32,400 pesos.

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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