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Financial News: COLOMBIA: Colcap Rises 0.49% With Year-end Position Squari

COLOMBIA: Colcap Rises 0.49% With Year-end Position Squaring

12/27/2017 - 19:38:00 (RTTNews)

(RTTNews) - Colcap, the benchmark stock market index in Colombia, was up 0.49% near the end of Wednesday's session to 1,500.73 points, boosted by an end-year rally as traders square positions in bluechip stocks, said Erika Baquero, an analyst at Alianza Valores.

Avianca had a neutral behavior during the session after announcing that it is still negotiating a strategic partnership with United Airlines.

Cemargos(1,22%), Ecopetrol (1,20%), Corficolombiana (1,18%), Cemex (1,11%) and Preferencial Bancolombia (1,02%) were among the stocks rising at the end of the day, while Nutresa (-1,36%) and Conconcreto (0,90%) lose terrain.

The locally traded US dollar rose 0.32%, to 2,975.70 Colombian pesos, as falling oil prices weighed on the local currency, according to Wilson Tovar, an analyst at Acciones & Valores.

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