companies are having unusual price changes in Bogota trading july 18 2011

companies are having unusual price changes in Bogota trading july 18 2011 : Colombian Stocks: Canacol Declines; Ecopetrol Increases. The IGBC Index fell 0.5 percent to 13,068.52, while the Colcap Index declined 0.4 percent to 1,577.97

Canacol Energy Ltd. (CNEC) , the Calgary-based oil company with fields in South America, fell 3.2 percent to 1,645 pesos, the lowest intraday level since it began trading a year ago. Canadian stocks fell, led by energy and financial companies, as bank stress tests failed to reassure investors the European debt crisis will be contained and oil and natural-gas futures dropped.

Ecopetrol SA (ECOPETL) , Colombia’s biggest oil company, rose 0.1 percent to 3,580 pesos after saying it will offer up to 3 trillion pesos ($1.7 billion) worth of shares in a share sale to begin July 27.

the company seeks to sell about a 2 percent stake, less than the 9.9 percent stake allowed by law, according to an interview with the daily Portafolio. The company plans to sell an additional stake in an offering for foreign investors, Gutierrez told the daily.