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Financial News: COLOMBIA: Colcap Rises 0.10% As Avianca Limits Index

COLOMBIA: Colcap Rises 0.10% As Avianca Limits Index Gains

01/17/2018 - 19:47:00 (RTTNews)

(RTTNews) - Colcap gained 0.10% Wednesday, trading at 1,540.60 points near the end of the session, boosted by Ecopetrol on the eve of a new re-balancing of the main index of the Colombian Stock Exchange.

Marcela Ramírez, an analyst at Acciones & Valores, noted that the other shares traded in Bogotá showed a mixed behavior, also affected in part by the Colcap rebalancing.

Avianca fell after its subsidiary companies reported that they transported 2,538,891 passengers during December 2017, or 3.4% less than in the same month of 2016.

Shares of Ecopetrol (+1.65%), Davivienda (+1.62%), and Celsia (+1.28%) were up, while Promigas (-3.89%), Avianca (-2.59%), Bancolombia (-0.64%), and Sura (-0.56%) traded lower.

The locally traded U.S. dollar closed at 2,844.45 Colombian pesos, marking a 0.68% fall, due to a spike in oil prices. Wilson Tovar, an analyst at Acciones & Valores, noted that oil prices rose before the release of a report that could show that oil inventories in the United States fell for the ninth week, which should appreciate emerging currencies against the dollar.

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