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Wednesday, December 14, 2011

Colombian Stock Movers : Ecopetrol Declines; Fabricato Advances

The following companies had unusual price changes in Bogotá trading. 

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

The IGBC Index fell 1.4 percent to 12,424.98, while the Colcap Index declined 1.4 percent to 1,546.37.

Ecopetrol SA (ECOPETL CB), Colombia’s largest oil company, fell 1.7 percent to 4,105 pesos.

Mauricio Cardenas, minister of energy and mines, said pipeline designers should avoid building pipelines near sources of potable water after water service in the city of Cucutá was suspended following the rupture of Ecopetrol’s Caño Limón Coveñas pipeline, according to a statement on the ministry website yesterday.

Fabricato SA (FABRI CB), Colombia’s biggest textile maker, rose 0.6 percent to 78.5 pesos. 

The company said it paid down its debt under Colombian bankruptcy law to 2.2 billion pesos ($1.1 million), according to a regulatory filing yesterday.

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