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Financial News: COLOMBIA: Ecopetrol Tracks Oil Decline And Weighs On

COLOMBIA: Ecopetrol Tracks Oil Decline And Weighs On The Colcap

05/23/2018 - 19:53:00 (RTTNews)

(RTTNews) - Colcap, the benchmark stock market index in Colombia, fell 0.11% to 1,370.05 points Wednesday, after WTI oil prices moved lower and hit Ecopetrol, a heavy-weight index constituent, according to Marcela Ramirez, an analyst at Acciones & Valores. The company's shares ended 2.73% lower.

Avianca shares fell 0.90% after the company received authorization from the government to combine Avianca Holdings and CAE International pilot training activities. The company also said that it would increase the number of flights from Bogot? to Aruba as from June 17.

Canacol Energy decreased 1.17% after unveiling its third consecutive gas discovery at the Breva 1 oil well.

Economic data released in Colombia showed that industrial confidence rose in April.

The locally traded U.S. dollar rose 0.79%, to 2,875.50 pesos, amid resurgent trade turbulence between the United States and China.

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