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Financial News: COLOMBIA: Bancolombia And Ecopetrol Lead Colcap''s Rise

COLOMBIA: Bancolombia And Ecopetrol Lead Colcap''s Rise

07/11/2017 - 21:35:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose by 0.50%, closing at 1,474.70 points, tracking the recovery of Bancolombia's and Ecopetrol's shares.

Felipe Espitia, an analyst at Alianza Valores, said that Bancolombia's shares rallied 1.82% after profit-taking in the previous session. Meanwhile, Ecopetrol's shares gained 1.11% after oil prices rose more than 1.5% abroad. Crude prices went higher on the eve of the release of US inventories data.

The shares of Nutresa also posted gains (+1.16%), while ETB shares fell by 5.19% after a court decision kept Bogot? district from selling shares from the company.

The locally traded US dollar closed at 3,075.50 Colombian pesos, increasing by 0.40%. Agust?n Vera, an analyst at Global Securities, said that the greenback rose on the eve of a testimony by the Federal Reserve Bank chairwoman Janet Yellen before the US Congress tomorrow.

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