empty
 
 

2017.07.2421:23:00UTC+00COLOMBIA: Colcap Reverses Initial Losses And Closes Higher

Colcap, the main index of the Colombian Stock Exchange, rose 0.31% Monday, closing at 1,475.84 points, boosted by a 1.27% increase in Bancolombia's share price and tracking higher oil prices abroad.

Felipe Espitia, an analyst at Alianza Valores, said that the rebound in oil prices after the Saudi Arabia's statement to strengthen the Organization of Petroleum Exporting Countries (Opec) agreement to restrict output boosted asset prices in Colombia.

Beyond Bancolombia, shares of ?xito (+1.21%), Conconcreto (+1.21%) and Cemargos (+1.13%) also increased. Cayac Canacol (-3.14%), Cemex (-1.81%), ETB (-1.05%) and Avianca (-0.55%) posted losses.

Meanwhile, the locally traded US dollar closed at 3,031.00 Colombian pesos, up 0.59%, with investors waiting for the US Federal Reserve Board's meeting conclusion, expected for Wednesday afternoon.

Diego Velasquez, an analyst at Valoralta, said the dollar rose to a high in more than a year while investors are expecting an announcement by the Federal Reserve on US benchmark interest rate.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback