Investorideas.com - Daily Colombian Equities Bulletin and Fundamentals 9-1-14
September 2, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,776points (0.32%). Total turnover reached USD 39 mm. The best performers were Canacol (+2.00%), ETB(+1.76%) and PfGrupoArgos(+1.71%). On the other hand, the worst performers were BVC (-1.20%), PfGrupoSura (-0.73%) and Pacific Rubiales (-0.60%
Fitch Ratings maintained Ecopetrol's international and local rating at 'BBB' and 'BBB+', respectively; both ratings with a stable outlook.Source: Bloomberg
Energy Sector | EEB
To address electric service problems in the north of the country, the Government approved the development of three projects of power transmission. The projects will be developed in the departments of Bolívar, Meta and Tolima, to fulfill the reliability of electricity supply. Investment amount is about USD 109.7 million between the three works, which will be operating between 2015 and 2017, according to the Government schedule. The biggest investment, USD 94.2 million, will be for the connection of Bolivar and Cartagena substations, and will be ready in March 2017. EEB will be in charge of this project. Source: La Republica
Grupo Argos said they extended until September 18, 2014 the expiration date of the loan of USD 94.5 million currently handled with BBVA. This transaction is covered by a forward contract to ensure a fixed financial cost in pesos and mitigate currency exposure. Is important to note that this operation does not constitute additional indebtedness, according to what the company said. Source: Grupo Argos
BVC | MILA
The Colombian Stock Exchange (BVC) published the amendments to the "Circular Única BVC" in order to incorporate the rules and conditions for holding primary market operations by foreign intermediaries over Colombian securities and for Colombian intermediaries on foreign securities, under the Integrated Latin American Market (MILA).Through this new tool, foreign brokers may offer more investment options to their customers using the MILA infrastructure, which is a direct benefit to the Colombian issuers as it expands the range of investors who can participate in a public offering. Similarly, this modification rules and procedures allowColombian investors, to have access to the primary issues that occur in other MILA markets such as Chile and Perú. 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: Daily Colombian Equities 9-1-14
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.