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Wednesday, April 27, 2011

Colombia Stocks : Canacol Energy, Cementos Argos, Mineros SA

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 fell 0.5 percent to 14,231.55, while the Colcap Index fell 0.4 percent to 1,690.59, the most in a week.

Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in South America, rose for a second day, rising 4.1 percent to 2,265 pesos, the highest in a week.

Investors are buying the stock on bets that a record 18 percent plunge on April 25 was overdone, said Rupert Stebbings, managing director of international sales at Celfin Colombia SAS.

Cementos Argos (CEMARGOS CB), Colombia’s biggest cement maker and sixth-largest concrete maker in the U.S., declined 0.4 percent to 10,620 pesos after U.S. Federal Reserve Chairman Ben S. Bernanke said the U.S. housing market remains “very weak.”

Mineros SA (MINEROS) , Colombia’s largest gold-mining company, jumped 0.2 percent to 6,450 pesos after saying it increased production by 49 percent to 28,760 ounces in the first quarter from a year ago, according to a regulatory filing.

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