FOREX TradingCharts.com

Financial News: COLOMBIA: Colcap Drops 0.15% On Financials, Ecopetrol

COLOMBIA: Colcap Drops 0.15% On Financials, Ecopetrol

08/27/2017 - 20:06:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, fell 0.15% Friday, closing at 1,475.17 points, due to the poor performance of financial shares and Ecopetrol. During the week, the Colombian market drop 0.13%.

Ramses Pestanapalmett, an analyst at Ultraserfinco, said that the underperformance shown by Bancolombia and other financial companies for the second consecutive session shows that the sector is going through a generalized portfolio deterioration following the central bank's decision to cut interest rates.

Ecopetrol ended the day with losses (-0,73%) after announcing the liquidation of two subordinated companies in Europe: Ecopetrol Global Capital, in Spain, and ECP Oil and Gas, in Germany.

Meanwhile, the Colombian Comptroller's Office warned that the shareholders of Ecopetrol's Cartagena Refinery (Reficar), including the state, are being affected by a negative operating profit margin, while the company's operation is far from the projections initially budgeted.

Avianca, for its turn, rose slightly (+0,18%) amid comments by the Copa Airlines chairman Pedro Heilbron favorable to be part of the strategic alliance that manages the Colombian airline with United.

The shares of Corficolombiana (+0,35%), Cemargos (+0,17%), Banco de Bogotá (+0,16%) and ISA (+0,15%) rose, while Canacol (-1,72%), Bancolombia (-0,77%), Sura (-0,49%) and Bancolombia preferencial (-0,37%) fell.

The locally traded U.S. dollar closed at 2,924.10 Colombian pesos, marking a 1.24% fall. Camilo Silva, an analyst at Valora Inversiones, said that the lack of monetary policy information ceded by the U.S. Federal Reserve chairwoman Janet Yellen after a central bankers meeting in Jackson Hole has been interpreted by the market as her symbolic resignation letter to the President of the United States, Donald Trump, with whom she maintains strong differences.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Taiwan Holds Key Interest Rates (15 min(s), 52 sec(s) ago)
(RTTNews) - Taiwan central bank left its key interest rate unchanged on Thursday, as widely expect ...Full Story»

Hong Kong Inflation Eases In August (20 min(s), 52 sec(s) ago)
(RTTNews) - Hong Kong's consumer price inflation eased slightly in August, figures from the Ce ...Full Story»

S&P Lowers China's Rating; Outlook Stable (01 hr(s), 0 min(s),52 sec(s) ago)
(RTTNews) - S&P Global Ratings downgraded China's sovereign ratings citing higher economic ...Full Story»

UK Budget Deficit Narrows In August (01 hr(s), 24 min(s), 52 sec(s) ago)
(RTTNews) - The UK budget deficit decreased to its lowest August level since 2007, data from the O ...Full Story»

Norway Keeps Key Rate Unchanged (01 hr(s), 49 min(s), 52 sec(s) ago)
(RTTNews) - Norway's central bank retained its key policy rate and hinted that the rate will r ...Full Story»

RBA Chief Says Australia's Economy Does Look To Be Improving (02 hr(s), 19 min(s), 52 sec(s) ago)
(RTTNews) - Australia's economy does look to be improving, Reserve Bank of Australia Governor ...Full Story»

Denmark Consumer Confidence Weakens Further (02 hr(s), 47 min(s), 52 sec(s) ago)
(RTTNews) - Denmark's consumer confidence weakened for the second straight month in September, ...Full Story»

Denmark Retail Sales Fall For Third Month (02 hr(s), 56 min(s), 52 sec(s) ago)
(RTTNews) - Denmark's retail sales declined for the third straight month in August, figures fr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Taiwan Holds Key Interest Rates

09/21/2017 - 06:01 AM (RTTNews)
(RTTNews) - Taiwan central bank left its key interest rate unchanged on Thursday, as widely expect ...Full Story>>

Hong Kong Inflation Eases In August

09/21/2017 - 05:56 AM (RTTNews)
(RTTNews) - Hong Kong's consumer price inflation eased slightly in August, figures from the Ce ...Full Story>>

S&P Lowers China's Rating; Outlook Stable

09/21/2017 - 05:16 AM (RTTNews)
(RTTNews) - S&P Global Ratings downgraded China's sovereign ratings citing higher economic ...Full Story>>

UK Budget Deficit Narrows In August

09/21/2017 - 04:52 AM (RTTNews)
(RTTNews) - The UK budget deficit decreased to its lowest August level since 2007, data from the O ...Full Story>>

Norway Keeps Key Rate Unchanged

09/21/2017 - 04:27 AM (RTTNews)
(RTTNews) - Norway's central bank retained its key policy rate and hinted that the rate will r ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.