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Financial News: COLOMBIA: Colcap Falls 0.11% Due To Bancolombia And

COLOMBIA: Colcap Falls 0.11% Due To Bancolombia And Avianca

09/26/2017 - 20:28:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, fell 0.11% Tuesday, closing at 1,481.21 points due to the drop in Bancolombia's shares and the crisis that Avianca is going through with its pilots.

Erika Baquero, an analyst at Alianza Valores, said that Bancolombia's shares fell due to profit-taking by investors, still reflecting the rebalancing of the Hcolsel and FTSE indexes.

Meanwhile, Baquero said that the fall of Avianca's shares is related to the lack of agreement between the airline and the Colombian Association of Civil Aviators, which represents the pilots. After six days of pilots on strike, the airline decided to suspend the sales of tickets for domestic flights until October 5.

The shares of Davivienda (+1.08%), ETB (+0.59%), Éxito (+0.52%), Sura (+0.45%), Banco de Bogotá (+0.41%), Nutresa (+0.38%), and Ecopetrol (+0.36%) rose, while Avianca (-2.60%), Grupo Aval (-0.75%), ISA (-0.73%), Cemex (-0.70%), Preferencial Bancolombia (-0.70%), and Bancolombia (-0.61%) fell.

The locally traded U.S. dollar closed the day at 2,924.90 Colombian pesos, marking a 0.03% drop, due to the increasing tensions between the United States and North Korea.

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