Kyle,
You should know by now that this thing will trade, at least news that we may never hear about. Perhaps this is significant though. Look at today's volume in Bogota, less than $3.0 million US!
Colombia stocks mixed, demand for banks, retail
BOGOTA, April 2 (Reuters) - Colombian stocks ended mixed on Thursday, brokers said.
Bogota's IBB <.IBB> index closed up 0.5 percent at 1,187.01 amid a 3.3 billion peso volume while Medellin's IBOMED <.IBMG> general price index was off 0.08 percent at 16,484.83.
One of the day's biggest gainers was supermarket chain Cadenalco <LEY.BG>, up 3.54 percent at 1,170 in Medellin and up 4.9 percent at 1,160 in Bogota. Brokers said the rise was the result of investors reshuffling portfolios.
Banco de Colombia <BCO.BG>, up 4.22 percent at 370 in Bogota and up 1.41 at 360 in Medellin. The bank will trade separately for the last time Friday prior to its merger with Banco Industrial Colombiano <BIC.BG>.
From next week the new entity will trade as BanColombia, in which one Banco Industrial share will be worth 9.59 Banco de Colombia shares.
Banco Industrial, however, dipped 0.6 percent to 3,260 in Bogota but gained 1.04 percent to close at 3,300 in Medellin.
The day's biggest loser was Valores Bavaria <VBS.BG>, down 4.35 percent at 3,300 in Medellin and down 8.96 percent at 3,350 in Bogota.
Its sister company Bavaria SA <BAV.BG> fell 0.14 percent to 8,100 in Bogota and was down a thin 0.01 percent to the same price in Medellin.
"Nobody really knows the reason for the fall but there are rumors about the amount the companies will have to invest this year and concerns over debt levels," one Bogota broker said.
18:42 04-02-98 |
