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Financial News: COLOMBIA: Colcap Rises 0.10% After Indexes Rebalancing

COLOMBIA: Colcap Rises 0.10% After Indexes Rebalancing

09/17/2017 - 19:36:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 0.10% Friday, closing at 1,492.96 points after the rebalance of the FTSE and Hcolsel indexes. According to traders, heavyweight stocks in Colcap lost importance in both indexes, and that sent ripples across the Colcap.

Camilo Silva, an analyst at Valora Inversiones, said the stock market had a high trading volume as a result of the effective rebalancing of the indexes. He noted that the Hcolsel's rebalancing ended up affecting the performance of the shares of Bancolombia (-0.72%) and Corficolombiana (-3.50%), which ended the day with losses.

Grupo Aval (+0.75%) closed the day with gains after the BCR Standard & Poor's technical committee confirmed the AAA's long-term debt rating of the sixth Ordinary Bond Issue 2017 of the Grupo Aval Acciones y Valores.

The shares of Avianca (+2.03%), Sura (+1.89%), ISA (+1.18%), Cemargos (+1.15%), ETB (+0.95%), Ecopetrol (+0.37%), and Banco de Bogotá (+0.15%) rose, while, Celsia (-1.16%), Davivienda (-0.66%), and Bancolombia Preferencial (-0.58%) fell.

Meanwhile, the locally traded U.S. dollar closed the day at 2,897.00 Colombian pesos, marking a 0.10% fall, due to the rebound of the sterling pound. Wilson Tovar, an analyst at Acciones y Valores, said the greenback continues to weaken against other reserve currencies, to the exception of the yen. Tovar said that the gains are led by the sterling pound.

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