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Financial News: COLOMBIA: Colcap Trades 1.34% Lower Due To Ecopetrol's

COLOMBIA: Colcap Trades 1.34% Lower Due To Ecopetrol's Underperformance

01/30/2018 - 20:55:00 (RTTNews)

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, fell 1.34% to 1,576.89 points near to the closing of Tuesday's session, due to the fall in Ecopetrol's shares.

Erika Baquero, an analyst at Alianza Valores, noted that the state-owned oil company was influenced by the decline in oil prices abroad.

The shares of Canacol (+0.20%) are rising, while Ecopetrol (-3.06%), Promigas (-3.04%), Sura (-1.73%), and Avianca (-1.37%) trade lower.

The locally traded U.S. dollar closed at 2,851.15 Colombian pesos, marking a 0.47% rise due to the drop in oil prices abroad.

Ramses Pestanapalmett, an analyst at Ultraserfinco, noted that the commodity falls due to the increase in exploratory activities in the United States and Canada, which values the U.S. currency against emerging currencies such as the Colombian peso.

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