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Financial News: COLOMBIA: Colcap Drops 0.17% On Fed Decision

COLOMBIA: Colcap Drops 0.17% On Fed Decision

09/21/2017 - 23:39:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, fell 0.17% Thursday, closing at 1,483.90 points, still reflecting Wednesday's announcement by the United States Federal Reserve.

Ramses Pestanapalmett, an analyst at Ultraserfinco, said that the Fed's intentions to gradually reduce its assets sheet provide for an improvement in the U.S. economy, strengthening the dollar and reducing appetite for emerging markets in the region.

In the local scene, Ecopetrol's shares rose 0.36% after the company has confirmed that it began drilling the first offshore oil well that operates directly, called Molusco, in the Caribbean Sea.

The shares of Celsia (+1.39%), Preferencial Bancolombia (+0.89%), and Bancolombia (+0.62%) also rose, while ETB (-3.20%), Canacol (-2.58%), Sura (-1.33%) and Cemex (-1.02%) fell.

The locally traded U.S. dollar closed the day at 2,915.20 Colombian pesos, marking a 0.83% increase, also tracking Fed's announcement.

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