Colombia Stocks: Cementos Argos, Petrominerales, El Condor
The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses, and prices are as of the close of trading.
The IGBC Index (IGBC) decreased 0.8 percent to 13,711.64 while the Colcap Index slid 0.4 percent to 1,667.44.
Cementos Argos SA (CEMARGOS) , Colombia’s biggest cement maker, fell 0.1 percent to 7,100 pesos as employers in the U.S. hired fewer workers in June than forecast. The U.S. accounted for 26 percent of Cementos Argos’s first-quarter consolidated revenue, according to a report on the company’s website.
Construcciones El Condor SA (ELCONDOR) , a Colombian construction company specializing in infrastructure projects, rose 9.1 percent to 1,200 pesos, extending the weekly gain to 17 percent. Empresas Publicas de Medellin SA said on March 21 that a bid from a construction group including El Condor is being considered along with proposals by three other groups to build the Ituango hydroelectric plant. “The market is still awaiting a decision about EPM’s concession,” said Carlos Eduardo Gonzalez, a Medellin-based analyst at brokerage Bolsa y Renta.
Oil producers slumped as crude fell 0.6 percent this week in New York.
Pacific Rubiales Energy Corp. (PRE) , which operates the country’s largest oil field, fell 2.7 percent to 40,040 pesos. Petrominerales Ltd. (PMGC) , a Calgary-based oil company that operates in the Andean region, slid 2.8 percent to 19,020 pesos. Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in Colombia, decreased 3 percent to 815 pesos.
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