Daily Colombian Equities Bulletin and Fundamentals 7-14-14
July 14, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,684 points (+0.6%). Total turnover reached USD 56 mn. The best performers were PFAviancaHoldings (+2.3%), Ecopetrol (+1.9%) and ETB (+1.6%). On the other hand, the worst performers were PFDavivienda (-2.0%), Canacol (-1.7%) and PFGrupoArgos (-1.0%).
Any new contract for Rubiales field would "anticipate" Pacific Rubiales subsidiary Meta Petroleum remaining as operator. Source: Bloomberg
ISA won the construction, operation and maintenance of the Substation "Reforma al circuito Guavio-Tunañ 230 KV" for a total length of 1Km. This project will begin operations on November 30,2015 and will generate to the company annual revenues of approximately USD 0.5mn. Source: SuperFinanciera
Cemex Latam Holdings:
CEMEX Latam Holdings announced today changes to its senior level organization: Andrés Jiménez has been appointed Director of CEMEX Panamá, Alejandro Ramírez has been appointed Director of CEMEX Costa Rica, Yuri de los Santos has been appointed Director of CEMEX Nicaragua & El Salvador. In addition, Ramón Pizá, Director of CEMEX Panamá, and Roberto Pongutá, Director of CEMEX Costa Rica, are leaving CLH and will join CEMEX, S.A.B. de C.V.'s operations. These changes will be effective July 15, 2014. Source: SuperFinanciera
National General Budget:
The Government announced that 2015 National General Budget will be of COP 166.9 trillion (excluding debt payments and interests). This represents a 4% YoY growth. Finance Minister said that the removal of the 4x1000 tax should not be done taking into account the agro financial needs. However this issue should be discuss in congress. Source: Dinero
According to XM report, June energy demand grow 5.6% YoY (4.4% in May, 2.3% in April). YTD the energy demand growth was 4.3% YoY and in the last 12M it was 3.3% YoY. Source: Primera Página
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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.