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Financial News: COLOMBIA: Colcap Falls 0.34% Due To Bancolombia, Sura,

COLOMBIA: Colcap Falls 0.34% Due To Bancolombia, Sura, And Ecopetrol

06/20/2018 - 18:42:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, fell 0.34%, closing at 1,532.26 points, due to the drop in the shares of Bancolombia, Sura, and Ecopetrol.

Rodrigo Sanchez, an analyst at Ultraserfinco, noted that the performance of the shares of the state-owned oil company and the financial institution Bancolombia and Sura were affected by the expectation generated in the market by the inclusion of Argentina and Saudi Arabia in the indexes of emerging markets by part of the MSCI index provider.

The shares of ETB (+2.36%), Celsia (+1.86%), and Banco de Bogota (+1.44%) rose.

The locally traded U.S. dollar closed at 2,925.00 Colombian pesos, marking a 0.07% rise, following statements by the chairman of the United States Federal Reserve Bank, Jerome Powell.

Wilson Tovar, an analyst at Acciones & Valores, pointed out that the currency rebounded slightly after Powell confirmed that the U.S. economy is strong and that the country is close to full employment, factors that in his concept justify new gradual increases in the basic interest rate.

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