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Financial News: COLOMBIA: Colcap Falls 1.12% Due To Low Performance

COLOMBIA: Colcap Falls 1.12% Due To Low Performance Of Ecopetrol

04/15/2018 - 09:32:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, fell 1.12% to 1,538.44 points Friday due to the low performance of Ecopetrol. During the week, the Colcap rose 1.16%.

Erika Baquero, an analyst at Alianza Valores, noted that Ecopetrol's shares fell due to a market correction following the rise in oil prices on Wednesday.

Meanwhile, the chairman of the Colombian Stock Exchange, Juan Pablo Cordoba, suggested that a viable option to improve the fiscal deficit of the Colombian government is the sale of another 10% of Ecopetrol.

The shares of Avianca (+1.98%) rose, while Ecopetrol (-4.06%), ISA (-1.86%), and Preferencial Bancolombia (1,41%) fell.

The locally traded U.S. dollar closed at 2,713.00 Colombian pesos, marking a 0.19% rise, due to cooling in the trade war between the United States and China.

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