Daily Colombian Equities Bulletin and Fundamentals 7-9-14
July 10, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,684 points (-0.7%). Total turnover reached USD 91 mn. The best performers were PFDavivienda (+5.5%), Cemex Latam (+4.7%) and Celsia (+0.8%). On the other hand, the worst performers were Pacific Rubiales (-2.9%), Mineros (-2.9%) and ETB (-2.8%).
Colcap Index Recomposition:
The main changes that will take place during the Colcap Index Recomposition at the end of July are the following: i) Grupo Sura´s preferred stock will be replaced by its ordinary stock within the index; ii) Exito will be the largest positive change in participation (+0.07%); iii) Ecopetrol´s participation will shrink -1.57% from the previous Colcap composition to 16.32%. Source: Corredores Asociados
Colombian Oil Round has 39 companies participating. Tomorrow the National Oil Agency will release the preliminary list of the companies and the final list will be ready on July 17. The bid will take place on July 23 and on August 12 the contracts will be signed.
The National Oil Agency expects to award between 30% to 40% of the 95 offered blocks. The focus of this Round will be non-conventional and offshore blocks (35% of total offered blocks). Source: La Repśblica
According to Hector Manosalva, Ecopetrol's Exploration and Production VP, the company produced 770,000 bpd during 1H14, below 2014 output goal (798,000 bpd). Source: Bloomberg
Colombia's Environment Authority is investigating Pacific Rubiales' STAR Technology Permits, taking into account that every time a company change the technology, or make some type of modification, they have to revise the environmental impact study. Source: Bloomberg
Through subsidiaries Afore SURA S.A. de C.V. and Sura Art Corporation S.A. de C.V, Grupo Sura established two new subsidiaries in Mexico: SIEFORE SURA AV 1, S.A DE C.V. and SIEFORE SURA AV 2, S.A DE C.V. The capital of each of these societies is USD 7,700. Source: SuperFinanciera
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Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.