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Financial News: COLOMBIA: Colcap Rises 0.84% Ahead Of Ecopetrol 1Q18

COLOMBIA: Colcap Rises 0.84% Ahead Of Ecopetrol 1Q18 Results

05/01/2018 - 13:06:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 0.84% 1,566.45 points Friday on the eve of Ecopetrol's quarterly financial results.

The shares of Cemex (+2.31%), Ecopetrol (+1.66%) and Bancolombia (+1.31%) rose, while Suramericana fell by 1.14%.

Camilo Silva, an analyst at Valora Inversiones, said that Ecopetrol has picked up taking into account that Brent oil prices remained high abroad. Meanwhile, Bancolombia rose because the appetite for Colombian shares has increased as a whole, Silva said.

The locally traded U.S. dollar closed at 2,806.70 Colombian pesos, marking a 0.36% drop, after the release of the United States' Gross Domestic Product (GDP) data. Wilson Tovar, an analyst at Acciones & Valores, pointed out that the available data on GDP and personal consumption in the U.S. limit the strength of the greenback.

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