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Financial News: COLOMBIA: Colcap Rises 0.27% Due To Bancolombia, Sura

COLOMBIA: Colcap Rises 0.27% Due To Bancolombia, Sura And Ecopetrol

12/19/2017 - 00:01:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, was up 0.27% at 1,469.01 points near the end of Monday's session, amid rising prices from Bancolombia, Sura, and Ecopetrol's shares.

Ecopetrol confirmed the presence of oil in the Coyote-1 well, at the Middle Magdalena Valley basin, in the department (state) of Santander, in the east of the country. Coyote-1 is one of the exploratory projects that Ecopetrol (50%) and Parex (50%) share in the De Mares block.

The shares of Bancolombia (+1.74%), Preferencial Bancolombia (+1.23%), Sura (+0.48%), Éxito (+0.36%), Celsia (+0.32%), and Ecopetrol (+0.26%) are rising, while Conconcreto (-1.47%), Avianca (-1.17%), Canacol (-1.12%), and Grupo Aval (-0.39%) trade down.

The locally traded U.S. dollar closed the day at 2,978.50 Colombian pesos, marking a 0.71% drop, due to the tax reform in the United States and its scope.

Wilson Tovar, an analyst at Acciones & Valores, noted that the uncertainty related to the tax reform sponsored by the Donald Trump administration weakens the greenback against other strong currencies.

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