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Colombian stocks end mixed, insurance drops
BOGOTA, July 21 (Reuters) - Colombian stocks closed mixed Tuesday in sessions marked by gains in banks and losses in insurance and brewing.
Medellin's IBOMED <.IBMG> general price index fell 0.21 percent to 14,013.21 while Bogota's <.IBB> index rose a thin 0.07 percent to 1,076.04 on turnover of 2.5 billion pesos.
The biggest gainer was Banco Ganadero <BGA.BG, Colombia's second largest bank in terms of assets, rising 0.95 percent to 427 in Medellin and 1.41 percent to 430 in Bogota.
A Bogota trader said Banco Ganadero was boosted by rumors of a merger between its main shareholder, Banco Bilbao Vizcaya <BBV.MC>, and Banco Santander <SAN.MC>, both Spanish-owned banks.
One of the day's biggest fallers was Suramericana de Inversiones <CSS.BG>, the holding company of Colombia's largest insurance group, which fell 1.47 percent to 3,350 on both exchanges.
Suramericana has not yet published its first half results but brokers expect earnings to be down in the face of the general economic downturn.
Brewing company Bavaria <BAV.BG> sank 0.63 percent to 7,900 in Medellin and was unchanged at 7,950 in Bogota.
00:14 07-22-98
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