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Financial News: COLOMBIA: Colcap Rises 1.06% On The Eve Of

COLOMBIA: Colcap Rises 1.06% On The Eve Of Stocks Rebalancing

04/10/2018 - 19:05:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 1.06% to 1,548.01 points Tuesday ahead of the Colcap's rebalancing, which is expected at the end of April.

Camilo Thomas, an analyst at Alianza Valores, said that Ecopetrol's weight should change significantly after the rebalancing and that investors should begin to sell Bancolombia shares, since once again the company would exceed the maximum stake in the index, of 20%.

The shares of Preferencial Bancolombia (+3.08%), Davivienda (+1.96%), Grupo Aval (+1.65%), and Ecopetrol (+1.64%) rose, while ETB (-0.74%) and Corficolombiana (-0.33%) fell.

The locally traded U.S. dollar closed at 2,771.25 Colombian pesos, marking a 0.20% drop, on the eve of the release of consumer inflation data in the United States.

Wilson Tovar, an analyst at Acciones & Valores, noted that the greenback is falling due to the greater dynamics recorded in the producer price index, which is marked by a greater increase in steel and food prices.

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