Investorideas.com – big ideas for global investors Search www.investorideas.com
   Member Access       Sign-up       Listings        Stock Directories       Research       Cleantech       Headlines        Video       New Ventures   




Daily Colombian Equities Bulletin and Fundamentals - March 17, 2014

Ideas get bigger when you share them...

March 18, 2014 (www.investorideas.com newswire) Latam markets were positive as Bovespa in Brazil increased 0.34% and Chilean IPSA index increased 0.54%. The local COLCAP index closed at 1596.76 pts., equivalent to a 0.43% increase; the total traded volume reached COP 117,420 million (~58 USD MM). The best performers were PfAviancaHoldings (+2.50%), PFGrupoArgos (+2.06%) and PfDavivienda (+1.80%). On the other hand, the worst performers were Carvajal Empaques (-5.47%), Canacol (-2.20%) and Conconcreto (-1.38%). The most traded shares today were PfBancolombia, Pacific Rubiales and Ecopetrol.

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner

Canacol Energy announced that has initiated a discussion to increase the line of the existing credit "Senior Guaranteed Credit" (USD 140 million) with a syndicate of banks led by Credit Suisse, which acts as "Lead Arranger", "Sole Bookrunner" and Agent Manager at an additional cost of USD 80 million, basically on the same commercial terms without changes in the schedule for the principal payment. Transaction closing is subject to regulatory and credit approvals of all members of the syndicate banks, the approval by the Board of Canacol and other customary closing conditions. It is expected that the transaction will be closed in late March or early April 2014

Grupo Bancolombia´s President, Carlos Raul Yepes, announced that this year the organization will invest USD 300 million of which USD 170 million will be invested in Colombia for different businesses, such as banking correspondents, ATMs, branches, strategic projects, among others. Similarly, in Panama they will invest USD 75 million and in El Salvador USD 55 million in a computer center. Yepes said the total funds will go to infrastructure, branches, new channels and technology.

In January 2014, controlled entities by Superintendencia financiera de Colombia registered profits of COP 502.19 million (-44% YoY), especially driven by credit institutions (COP 460.89 million, equivalent to -11.3% YoY). Banking institutions obtained profits of COP 421.93 million, followed by the special government institutions (IOE) and trust companies that had revenues of COP 29.61 million and COP 21.88 million, respectively. The insurance industry and fund management companies closed January with a loss of COP 15.08 million and COP 5.14 million, equivalent to a variation of -107.9% YoY and -107.4% YoY, respectively.

In 4Q13, civil works registered a 14% growth compared to the same period of 2012, mainly explained by the construction of highways, streets, roads, bridges, tunnels and underground constructions which grew 25.6% and added 7.1% to the total variation. In the year, expenditure on infrastructure registered a 10.2% growth compared to 2012. Moreover, retail sales in Colombia grew 6.5% compared to the same month in 2013 while industrial production, excluding coffee processing, showed an increase of 0.1% over the same month in 2013 when it registered a decrease of 1.1%.

In the US, markets were positive as the S&P 500 increased 0.96% and the DJIA increased 1.13%.

Industrial production in the US increased 0.60% in February 2014 over the previous month, higher than analyst’s expectations (0.2% MoM).

In the Euro Area, the inflation rate in February 2014 revised downwards from a preliminary 0.8% to 0.70%

More Info:

This news is published on the Investorideas.com Newswire and its syndicated partner network

Publish Your News - Send a release
News now!

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 and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of 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, content marketing and online 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. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp

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.



Free News Alerts
Email:  

Read more News





TOP

Investor Ideas © 2000 - 2014 InvestorIdeas.com®, ECON

Free Investor Stock Alerts
Sign up here

login | logout | about us | contact | disclaimer / disclosure |
advertise | company profile directory | partners / links |
job search | privacy policy | trade | services | sitemap |