Daily Colombian Equities Bulletin and Fundamentals 7-22-14
July 23, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,697 points (0.5%). Total turnover reached USD 68 mm. The best performers were Enka (+4.35%), Pacific Rubiales (+3.92%) and Cemex Latam (+3.03%). On the other hand, the worst performers were El Condor (-1.95%), EEB(-1.56%) and Conconcreto (-0.32%).
Today Celsia and Exito will release their 2Q14 earnings presentation after market close.
Tomorrow morning Ecopetrol's board will meet to define the future of the Star technology presented by Pacific Rubiales. Source: La Republica
With 72% of the project sold and the presence of Conconcreto and Avenida Capital offices, Atlantic Business Tower, the new mega-project in Barranquilla, gets off to a good start. Conconcreto besides having purchased 3,250 square meters is responsible of the construction that must be completed in 2016.Source: La Republica
The National Roads Institute INVIAS revealed that the Government has allocated historical resources during the first four years of Juan Manuel Santos' presidential period for the development of the roads in charge of the National Roads Institute in Antioquia. Since 2010 investment has been around COP 1.74 billion, resources that have been executed in major works for road development in the Antioquia department. Source: Dataifx
Funds obtained from thesale of Isagen will be used in 4G road concessions. The Finance Minister, Mauricio Cardenas, told that the COP 5 billion from the sale may be used after the 20th of September.Source: El Colombiano
Government will expand the wealth tax to support costs of monitoring oil infrastructure. During the first half of this year 39 terrorist attacks to the infrastructure were recorded.
Ecopetrol, the company with the largest share of the country pipelines, spent last year COP 67 billion to address the damage caused by the attacks of the guerrillas. In 1Q14 the company paid COP 9 billion for the same concept.Source: Portfolio
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