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Financial News: COLOMBIA: Colcap Closes Stable Due To Bancolombia's Underp

COLOMBIA: Colcap Closes Stable Due To Bancolombia's Underperformance

10/24/2017 - 20:48:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, closed stable Tuesday at 1,460.35 units.

Ramses Pestanapalmett, an analyst at Ultraserfinco, said the oil rally abroad due to the declining output in Iraq after the Kurdish referendum, was countered by Bancolombia's underperformance.

Avianca closed with gains after the nomination of a third arbitrator within the Arbitration Court trying to settle in the labor dispute between the company and the pilots' unions.

The shares of ETB (+1.62%), Ecopetrol (+1.03%), Cemargos (+0.94%), Cemex (+0.88%), Avianca (+0.54%), Conconcreto (+0.51%), and EEB (+0.25%), while Bancolombia (-1.23%), Nutresa (-0.52%), and Preferencial Bancolombia (-0,31%) fell.

The locally traded U.S. dollar closed the day at 2,978.00 Colombian pesos, up 0.86%, remaining bullish amid expectations on who will be nominated by U.S. President Donald Trump as head of the Federal Reserve Bank.

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