Daily Colombian Equities Bulletin and Fundamentals 6-27-14
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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
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