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Financial News: COLOMBIA: Colcap Falls 0.10% For Ecopetrol And Sura

COLOMBIA: Colcap Falls 0.10% For Ecopetrol And Sura

06/09/2018 - 09:04:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, ended the day with a 0.10% drop, closing at 1,547.96, due to the fall of Ecopetrol and Sura. During the week the market recorded a negative variation of 1.05%.

Ramses Pestanapalmett, an analyst at Ultraserfinco, noted that Ecopetrol's shares were influenced by the fall in oil prices abroad, despite the efforts of Venezuela to meet its supply obligations and output cuts by the Organization of Petroleum Exporting Countries (OPEC).

The shares of Cemargos (+2.15%) and Avianca (+1.30%) rose, while Sura (-0.84%) and Ecopetrol (-0.49%) closed lower.

The locally traded U.S. dollar closed at 2,858.55 Colombian pesos, marking a 0.40% rise, due to the fall of the euro.

Wilson Tovar, an analyst at Acciones & Valores, said that the weak performance of the common currency is related to disappointing economic data of Germany and France, after an unexpected drop in industrial production in April.

On Monday, markets will remain closed due to a holiday in Colombia.

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