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Wednesday, September 7, 2011

Colombian Stocks : Empresa de Telecomunicaciones, Rubiales

The following companies are having unusual price changes in Bogotá trading.

Stock symbols are in parentheses and prices are as of 1:14 p.m. New York time.

The IGBC Index rose 0.9 percent to 13,550.36, while the Colcap Index gained 0.9 percent to 1,648.57.

Empresa de Telecomunicaciones de Bogota (ETB) SA, the phone company serving Colombia’s capital, rose 6 percent, the most intraday since May 27, to 588 pesos.

The company may form an alliance with the telecommunications business of Empresas Municipales de Cali.

Pacific Rubiales Energy Corp. (PRE) , the Toronto based oil producer that operates fields in Colombia, rose 1.6 percent to 45,120 pesos.

The company said it is producing a record 242,000 barrels a day in an exploration update on its operations in Colombia, Perú and Guatemala, according to a regulatory filing.

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