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2017.07.2520:37:00UTC+00COLOMBIA: Colcap Closes Virtually Unchanged, Weighed By Cement Companies

Colcap, the main index of the Colombian Stock Exchange, closed almost stable (+0.02%), at 1,476.10 points, with an increase in oil-sector share prices overshadowed by the poor performance of cement companies stocks.

Felipe Espitia, an analyst at Alianza Valores, said that the rally in oil prices abroad boosted Ecopetrol's shares. Alongside Grupo Aval's shares, Ecopetrol contributed to Colcap's positive closing.

Espitia said that the cement companies closed down amid profit-taking after the announcement of an alliance among Odinsa, Argos, and Conconcreto to face a greater demand from the market.

The shares of Canacol (+2.86%), Ecopetrol (+1.45%), Avianca (+1.11%) and Grupo Aval (+0.77%) posted gains, while Cemex (-2.39%) and Argos (-0.93%) fell.

The locally traded US dollar closed at 3,030.20 Colombian pesos, down 0.02%, on the eve of the U.S. Federal Reserve Board's monetary policy meeting. Juan Pinz?n, an analyst at Profesionales de Bolsa, said that investors are cautious while expecting a Fed's decision on interest rate in the U.S.

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