Colombian Stocks : Bancolombia, Coltejer, Fabricato Rise

The following companies had unusual price changes in Bogota trading.

Stock symbols are in parentheses and prices are as of 4 p.m. New York time.

The IGBC Index was little changed at 14,031.16, while the Colcap Index advanced 0.1 percent to 1,702.44.

Bancolombia SA (BCOLO) , Colombia’s biggest bank, rose 2.4 percent to 29,800 pesos, the highest since December 2010.

The lender was raised to “hold” from “sell” yesterday by Interbolsa SA. Interbolsa raised its year end target price 26 percent to 32,550 pesos on the outlook for loan growth, interest rates and borrowers’ creditworthiness, according to an e-mailed statement from Colombia’s biggest brokerage.

Coltejer SA (COLTEJ) , a Colombian clothing maker and exporter, jumped the most in almost three years on optimism the U.S. Congress will pass a free-trade agreement with the South American country.

The stock jumped 12 percent to 95 centavos, the biggest increase for the Medellin-based company since July 2008.

White House Chief of Staff William Daley said a consensus has emerged in Congress for renewing aid for workers who lose jobs to global competition and passing free-trade agreements before the August recess.

Fabricato SA (FABRI CB), Colombia’s largest textile maker, gained 2.5 percent to 61.5 pesos after Daley’s comment.

Berny Polanía

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