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Financial News: COLOMBIA: Colcap Rises 0.44% Driven By Bancolombia's ADRs

COLOMBIA: Colcap Rises 0.44% Driven By Bancolombia's ADRs

08/19/2017 - 09:20:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 0.44%, closing at 1,477.21 points Friday, due to the strong performance of Bancolombia Preferencial shares. During the week, the Colombian stock market increased 0.96%.

Camilo Thomas, an analyst at Alianza Valores, said that Bancolombia shares rebounded after losing some ground yesterday due to the good performance of its American Depositary Receipt (ADRs) traded in Wall Street.

The shares of Bancolombia (+1.04%), Conconcreto (+0.97%), Davivienda (+0.95%) and Bancolombia Preferencial (+1.54%), Cemargos (+1,36%) and Avianca (+0.83%) rose, while Banco de Bogotá (-1,87%), Canacol (-0,83%), Sura (-0.35%) and Nutresa (-0.29%) fell.

Meanwhile, the locally traded U.S. dollar closed the week at 2,987.00 Colombian pesos, after falling by 0.16% today. Agustín Vera, an analyst at Global Securities, said that currencies gained ground against the greenback on a day when investors are still waiting for data to be released in the United States and take some profit from the strong purchases occurred after yesterday's attack in Spain.

On Monday, the Colombian Stock Exchange will be closed due to a religious holiday.

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