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.
Coltejer jumped 12 percent to 95 centavos at 4:34 p.m. New York time, 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.
The Obama administration a month ago said it wouldn’t submit for review the free rade accords with South Korea, Colombia and Panama until lawmakers agreed to renew trade aid for workers at its 2009 funding level.
“Coltejer is one of those speculative shares that moves easily with news regarding the free trade agreement,” said Valeria Marconi, a stock analyst at brokerage Correval SA.
Congress will pass a free-trade agreement with the South American country.
Coltejer jumped 12 percent to 95 centavos at 4:34 p.m. New York time, 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.
The Obama administration a month ago said it wouldn’t submit for review the free rade accords with South Korea, Colombia and Panama until lawmakers agreed to renew trade aid for workers at its 2009 funding level.
“Coltejer is one of those speculative shares that moves easily with news regarding the free trade agreement,” said Valeria Marconi, a stock analyst at brokerage Correval SA.
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