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Financial News: COLOMBIA: Colcap Rises 0.26% On Bancolombia

COLOMBIA: Colcap Rises 0.26% On Bancolombia

09/18/2017 - 21:51:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 0.26% Monday, closing at 1,496.87 points, boosted by Bancolombia.

Marcela Ramírez, an analyst at Acciones & Valores, said that the bank's shares closed higher on a market correction following the rebalancing of the Hcolsel and FTSE indexes, last Friday.

Meanwhile, Avianca shares fell 2.65% due to the lack of a solution in the talks with the pilots union, which threatens with a strike if its demands are ignored. On Monday, Avianca asked the Colombian Ministry of Labor to verify is the union has complied with all the legal requirements to call a strike.

Meanwhile, Ecopetrol closed stable on a day when it reported the activation of a contingency plan for the Caño Limón-Coveñas Oil Pipeline due to an attack in Arauca.

The shares of EEB (+1.54%), Preferencial Bancolombia (+0.82%), ISA (+0.73%), Corficolombiana (+0.63%), Banco de Bogotá (+0.59%), Nutresa (+0.52%), and Cemex (+0.34%), while Avianca (-2.65%), Cemargos (-2.27%), Sura (-1.12%), and ETB (-0.75%) fell.

The locally traded U.S. dollar closed the day at 2,908.80 Colombian pesos, marking a 0.40% rise, due to a decrease in the perception of risk by investors.

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