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Financial News: COLOMBIA: Colcap Falls On Poor Financial Performance

COLOMBIA: Colcap Falls On Poor Financial Performance

12/26/2017 - 20:20:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, was down 0.18% near closing Tuesday at 1,491.40 points due to the poor performance of financials.

Erika Baquero, an analyst at Alianza Valores, noted that Colcap remains in negative territory due to the low performance recorded by the financial companies, including Bancolombia, in a day characterized by lower trading volume due to the end of the year festivities.

The shares of Ecopetrol were rising by 2,72%, benefited by oil prices increasing abroad, while Sura (-0.98%), Banco de Bogotá (-0.97%), Grupo Aval (-0.39%), and Bancolombia (-0.20%) were trading lower.

The locally traded U.S. dollar closed at 2,966.00 Colombian pesos, marking a 0.19% rise. Wilson Tovar, an analyst at Acciones & Valores, said that macroeconomic indicators expected to be released in the United States, such as consumer confidence and the trade balance, should guide the greenback movement this week amid lower trading volumes.

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