Heavy Volume today in Colombia, just before the election!
Colombia stocks end mixed, BanColombia gains
BOGOTA, May 29 (Reuters) - Colombian stocks ended mixed Friday in trading that saw most active BanColombia <BIC.BG> lead gainers.
Bogota's IBB <.IBB> fell 0.18 percent to end at 1,183.92 on above-average turnover of about 45.8 billion pesos. Medellin's IBOMED <.IBMG> general price index closed up 0.25 percent, at 16,434.63 on lackluster trading volume of 2.8 billion pesos.
More than 43 billion of the volume in Bogota stemmed from pocket-to-pocket cross trades in BanColombia, the country's biggest bank in terms of assets.
Bank spokesmen could not be reached for immediate comment, but brokers said the trades apparently stemmed from BanColombia's creation earlier this year following the formal merger of Banco Industrial Colombiano and Banco de Colombia.
BanColombia's ordinary shares ended up 3.06 percent, at 3,200 pesos per share in Medellin Friday. But they closed unchanged in Bogota.
Other gainers included cigarette maker Coltabaco <CCT.BG>, which ended up 2.08 percent at 2,450 pesos per share in Medellin.
Valores Bavaria <VBS.BG>, investment arm of the Bavaria brewing and beverage company, also closed higher after rising 1.72 percent in Medellin to end at 2,950 pesos per share.
19:26 05-29-98
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