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Daily Colombian Equities Bulletin and Fundamentals 8-5-14

August 6, 2014 ( newswire) The Colcap index closed at 1,724 points (0.66%). Total turnover reached USD 108 mm. The best performers were Ecopetrol (+2.04%), Cemargos (+1.79%) and Celsia (+1.61%). On the other hand, the worst performers were Grupo Aval (-1.45%), PfCorficol (-0.86%) and Pacific Rubiales (-0.80%).

Colombia Today

2Q14 Results

Today Bancolombia will release its 2Q14 financial results.


Canacol announced the update on its production and drilling operations in Colombia and Ecuador. The average net production before royalties from April 1 to June 30 of this year was 12,212 barrels of oil equivalent per day (boepd), which includes 9,271 barrels of oil per day (bopd) and 16.7 million standard cubic feet of gas per day (mmscfpd) (2,941 boepd). This reflects an increase of 12% QoQ and 47% YoY. The average net production before royalties for July 2014 was 13,274 boepd, which includes 10,102 bopd and 18.1 mmscfpd (3,172 boepd). Source: SuperFinanciera


Ecopetrol workers made a 24-hour strike today. About 1,200 workers of the refinery in the industrial area of Mamonal in Cartagena made a protest against what they call labor outsourcing; they claim that 80% of them have not been included in the collective agreement. After concentration, the workers marched to the headquarters of the USO in the Nuevo Bosque district where they conducted an assembly. Source: Caracol Radio

In other news, today the company president, Javier Gutiérrez, announced that they plan to drill nine exploratory wells in the Andean country and in the Gulf of Mexico in the United States during the 3Q14. The company will drill three exploratory wells in Colombia and other three in the Gulf of Mexico. Additionally, other three exploratory wells will be drill by local subsidiary companies of Ecopetrol. Source: La República

Banco de Occidente

The bank published the Project of Distribution of Profits to submit to the Shareholders. The project established a monthly dividend of COP 142/share. This dividend represents a dividend yield of 4.3%. Source: SuperFinanciera

Macroeconomics - GDP and Inflation

Today inflation data corresponding to July will be released. We hope it will stand at 0.17%, and annual inflation at 2.92%. Source: Corredores

According to the DANE in July of 2014 the Producer Price Index was lower by 0.23% compared to the recorded in July 2013, when it stood at 0.00%. The variation presented in this month, is explained by the lower prices of Mining (with -1.66%) and Industry (with -0.12%) sectors. Source: DANE

The Director of Colombian Central Bank, José Darío Uribe, announced that they expect growth in Colombia in 2015 will stand at a range of 3.5% to 6%, with a likely figure above 4%. In addition, the bank expects that at the end of 2014 inflation will be about 3%, maybe a bit over the top but within the range of 2% to 4%. This because the technical staff of the bank expects an increase in prices and the rest of the basket would have stability. They also indicated that 2015 inflation will locate about 3%. Source: Dataifx

Corredores Asociados S.A. Comisionista de Bolsa is not responsible for investment decisions that may be derived from the information and analyses presented in this document. These decisions, their effects and consequences will be the sole responsibility of the investor. The information published is informative and has been taken from reliable sources, but Corredores Asociados S.A. does not guarantee that they are free of errors. Total or partial reproduction of this document is not allowed without the prior and express authorization of Corredores Asociados S.A.

To View Complete Report: 8-6-14

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