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Colombian Stock Movers: Bancolombia, Ecopetrol Are Active

March 7 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:41 a.m. local time.

The IGBC Index gained 0.2 percent to 14,830.47, while the Colcap Index rose 0.1 percent to 1,708.86.

Bancolombia SA (BCOLO CB), Colombia’s biggest lender, rose 1.8 percent, the most intraday in a month, to 27,520 pesos. The company is considering refinancing its debt, including through an exchange, after selling a record $2.7 billion of bonds last year, Chief Executive Officer Carlos Raul Yepes said in an interview yesterday.

Ecopetrol SA (ECOPETL CB), Colombia’s largest oil company, fell for a second day, losing 0.4 percent to 5,160 pesos.

Sandra Morelli, Colombia’s comptroller, said an explosion of a pipeline that killed 32 was not caused by rains and can be attributed to a lack of maintenance, the Bogota-based daily El Tiempo reported March 5. Ecopetrol said the pipeline rupture in December was triggered by rainfall that led soil around the infrastructure to give way, according to a March 5 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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