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Financial News: COLOMBIA: Stocks Fall Amid Profit-taking In Ecopetrol And

COLOMBIA: Stocks Fall Amid Profit-taking In Ecopetrol And Bancolombia Shares

05/10/2018 - 18:17:00 (RTTNews)

(RTTNews) - Colcap, the benchmark stock market index in Colombia, fell 0.37%, to 1,552.64 units, hit by profit-taking in Ecopetrol and Bancolombia shares, according to Rodrigo Sanchez, an analyst at Ultraserfinco.

Sanchez said that in spite of the Colcap decrease, there were good news for the Colombian stock market today - like ISA's earnings report for the first quarter of 2018. The company's net profit rose 24.0% from a year before, to 297.6 billion pesos, and its shares ended 1.88% higher.

Celsia (0.87%) and Sura (0.56%) stocks also rose, while Ecopetrol (1.90%) and Preferencial Bancolombia (1.17%) fell.

The locally traded U.S. dollar fell 1.32%, to 2,826.07 pesos, after increasing more than 4% in the last month, according to Marcela Ram?rez, an analyst at Acciones & Valores. She mentioned that geopolitical risks and launches of missiles in the Middle East also helped to undermine the greenback.

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