Colombian Stock Movers: Pacific Rubiales, Avianca Taca Holding
The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 11:36 a.m. local time.
The IGBC Index (IGBC) gained 0.3 percent to 13,954.29, while the Colcap Index advanced 0.1 percent to 1,645.1.
Avianca Taca Holding SA (PFAVTA) (PFAVTA CB), the owner of Colombia’s largest airline, rose 1.9 percent, the most in a week, to 3,790 pesos. The company increased its market share in Peru to 15 percent at the end of 2011, from 6 percent in September, with more domestic flights, the daily Portafolio reported without citing a source. Peruvian authorities have also approved the airline’s plans to increase flight frequency to and from Lima, the daily reported today.
Pacific Rubiales Energy Corp. (PRE) , the Toronto-based oil producer that operates fields in Colombia, rose 0.4 percent to 45,600 pesos after its Brazilian Depositary Receipts began trading yesterday on the Bovespa.
Colombia’s ministry of energy and mines said the country’s production rose to 941,000 barrels per day in January. Output increased from 840,000 barrels per day a year earlier, according to an e-mailed statement yesterday.
To contact the reporter on this story: Blake Schmidt in Bogota at email@example.com
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org