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Financial News: COLOMBIA: Colcap Falls 0.93% On Ecopetrol And Bancolombia

COLOMBIA: Colcap Falls 0.93% On Ecopetrol And Bancolombia Underperformance

02/03/2018 - 08:54:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, fell 0.93% near the end of Friday's trade to 1,566.21 points due to weakness from Ecopetrol and Bancolombia.

Felipe Espitia, an analyst at Alianza Valores, noted that the state-owned oil company falls by profit-taking by investors after Thursday's rise and the drop recorded by oil prices abroad.

The shares of ISA (+1.52%), Cemargos (+0.70%), EEB (+0.25%), and Corficolombiana (+0.22%) are rising, while Éxito (-3.24%), Ecopetrol (-3.07%), and Preferencial Bancolombia (-1.71%) trade lower.

The locally traded U.S. dollar closed at 2,842.00 Colombian pesos, marking a 1.71% rise, due to the euro's retreat. Natalia Granados, an analyst at Global Securities, noted that the greenback rebound against the main G-10 currencies after the losses in the previous day. The euro receded despite the economic optimism in the region after the new data release.

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