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Daily Colombian Equities Bulletin and Fundamentals - March 11, 2014

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March 11, 2014 (www.investorideas.com newswire) Latam markets were positive as Bovespa in Brazil increased 0.36% and Chilean IPSA index increased 0.19%. The local COLCAP index closed at 1586.04 pts., equivalent to a 0.93% increase; the total traded volume reached COP 180,945 million (~88 USD MM). The best performers were Grupo Sura (+4.16%), Isagen (+3.33%) and PfGrupoSura (+2.92%). On the other hand, the worst performers were Carvajal Empaques (-10.58%), Canacol (-2.55%) and BVC (-1.46%). The most traded shares today were PfBancolombia, Ecopetrol and Corficolombiana.

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The Ministry of Mines and Energy of Colombia reported that in February 2014, oil production was 1,002,000 barrels per day (bpd), which represented an increase of 0.5% compared to February 2013 when it stood at 997,000 bpd but 1.18% lower than December’s production. On the other hand, gas production in February 28 reached 1,168 million cubic feet per day, with a variation of -0.9% compared to the same period in 2013 amid demand changes of this product. Meanwhile, the Minister announced that regasification plant in the Colombian Caribbean is expected to be ready the 1st of December 2015. This plant will be very important in order to guarantee energy production in case of a possible El Niño episode and to reduce costs.

International News

In the US, markets were negative as the S&P 500 decreased 0.51% and the DJIA decreased 0.41%.

Wholesale inventories in the US increased 0.6% MoM to USD 521 billion, compared to the revised increase in December of 0.4%.

The U.S. Energy Information Administration (EIA) cut its forecast for 2014 world oil demand growth by 40,000 bpd in its monthly Short Term Energy Outlook on Tuesday. It predicted a 1.22 million barrel year-on-year increase.

RESEARCH & STRATEGY

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.

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