Daily Colombian Equities Bulletin and Fundamentals 6-27-14
Ideas get bigger when you share them...
June 27, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,710.7 points (-0.4%). Total turnover reached USD 67.01 mn. The best performers were Enka (+2.7%), El Condor (+1.4%) and Valorem (+1.3%). On the other hand, the worst performers were Ecopetrol (-1.7%), ISA (-1.5%) and ETB (-1.1%).
The Ministry of Finance and Public Credit authorized Isagen to make a loan with local banks for COP 240,000 million. Funds will be use for Sogamoso´s project. Source: SuperFinanciera
Ecopetrol and Occidental Andina (OXY) reached an agreement to develop a project that could eventually include more than 200 million additional barrels of oil in the Teca-Cocorná field, located in Puerto Triunfo in the department of Antioquia. Currently, the field produces about 1,500 barrels per day (bpd) of heavy crude and with the project it is estimated to produce more than 50,000 bpd in 2023, with an estimated investment of USD 1,300 million. Source: Ecopetrol
On the other hand, the National Environmental Licensing Authority (ANLA), imposed a preventive measure to Ecopetrol regarding the dumping of industrial waste water on Cravo Sur river in the department of Casanare, after receiving complaints from the community. Source: Dinero
The company announced the foundation of the society Transportadora de Gas Iberoamericana to purchase the 31.92% stake of TGI owned by the Rohatyn Group (formerly CVCI) announced on April 4, 2014. Source: SuperFinanciera
Two groups present bids for a contract to build a natgas pipeline in southern Peru, while Energy Transfer pulls out, state news agency Andina reports. One group comprises GDF Suez, Sempra, Techint and TGI; and the other is Odebrecht and Enagas. Winner to be announced on June 30. Source: Bloomberg
The Financial Superintendence presented the financial system figures for April, with an increase in net income of +79% YoY to COP 14.2 trillion. However, bank's net income fell 5.57% YoY to COP 2.58 trillion. On the other hand, loans grew 14.8% to COP 294 billion. 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: 6-27-14
This news is published on the Investorideas.com Newswire and its syndicated partner network
Get free news alerts:
Sign up here
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news as well as creates original content as a news source. Original content created by investor ideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and global syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions and advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers.
BC Residents and Investor Disclaimer: 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.