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Financial News: COLOMBIA: Colcap Rises 0.15% As Avianca And Ecopetrol

COLOMBIA: Colcap Rises 0.15% As Avianca And Ecopetrol Shares Recover

08/29/2017 - 19:46:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 0.15% Tuesday, closing at 1,477.89 points, boosted by Avianca and Ecopetrol.

Andrés Fonseca, an analyst at Alianza Valores, said that Avianca's shares, up 1,28%, went through a correction after the declines recorded in previous days. Meanwhile, Ecopetrol shares rose 0,37% after oil reduced losses abroad, he said.

Also on Tuesday, the Colombian Ministry of Finance and Public Credit authorized the power company Interconexión Eléctrica (ISA) to enter into an internal loan with Banco BBVA Colombia for 200 billion pesos (US$ 68.04 million). The amount will partially finance ISA's investment plans for 2017.

The shares of Bancolombia Preferencial (+1,41%), Bancolombia (+1,29%), ETB (+1,25%), and Cemex (0,37%) rose, while Canacol (-1,33%), Cemargos (-0,75%), Banco de Bogotá (-0,56%), and Davivienda (-0,55%) fell.

The locally traded U.S. dollar fell 0.39% due to heightened political tensions between the United States and North Korea. Agustín Vera, an analyst at Global Securities, pointed out that geopolitical tensions led investors to search for haven assets.

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