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Financial News: COLOMBIA: Colcap Rises 0.80%, Boosted By Ecopetrol Shares

COLOMBIA: Colcap Rises 0.80%, Boosted By Ecopetrol Shares

01/04/2018 - 18:22:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 0.80% near the end of the Thursday's session to 1,527.83 points, boosted by Ecopetrol's shares. The company's stocks rose for the third consecutive trading day.

Analyst Marcela Ramírez noted that the state-owned oil company was boosted by the oil price rise abroad. Bancolombia's shares were also higher after consecutive price falls in the last few sessions.

Meanwhile, Corficolombiana (+0.55%) and Grupo Aval (+1.96%) reported that the National Infrastructure Agency ordered the first payment in favor of the creditors of the Ruta del Sol concessionaire, controlled mainly by the Brazilian company Odebrecht.

The locally traded U.S. dollar closed at 2,887.00 Colombian pesos, marking a 0.55% fall, due to a sustained spike in oil prices abroad. Wilson Tovar, an analyst at Acciones & Valores, said that the rally in commodity prices continues, while oil remains close to US$ 62 per barrel, near the 2015 peak (US$ 62.58). Tovar pointed out that the better perspectives on the Chinese economy have allowed the prices of these assets to increase.

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