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Financial News: COLOMBIA: Colcap Tracks Foreign Markets And Rises As

COLOMBIA: Colcap Tracks Foreign Markets And Rises As Trade War Fears Fade

03/26/2018 - 19:37:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 0.68% to 1,469.04 points Monday as tensions regarding a potential trade war between the United States and China faded.

"The U.S. treasury secretary, Steven Mnuchin, slightly calmed the global markets with softer statements on the trade war with China," said analysts at Acciones & Valores.

They pointed out to a trend of thinner trading volume in the following days due the Easter holiday.

The locally traded U.S. dollar closed at 2,799.50 Colombian pesos, marking a 1.51% decrease. According to analysts at Alianza Valores, the currency fell partly due to lower trading volume and smaller risk aversion related to the trade war between China and the United States.

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