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Colombia Stock Movers: Pacific Rubiales, Ecopetrol Were Active

March 6 (Bloomberg) -- 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 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.

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, plunged 5 percent, the most since Dec. 13, to 51,380 pesos.

Ecopetrol SA (ECOPETL CB), 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.”

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

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