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COLOMBIA: Financial Sector Shares Drop, Push Colcap Down

(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, fell 0.29% Friday, closing at 1,487.80 points, pressured by a decline in financial sector shares prices.

Andr?s Fonseca, an analyst at Alianza Valores, said that the weak performance in financial stocks such as Bancolombia and Suramericana tracked financial shares abroad amid a generalized sale.

Banco de Bogot? shares were an exception, closing higher (+2.38%) after Fitch Ratings improved the company's rating outlook to stable, from negative. ETB (-1.72%), Bancolombia Preferencial (-1.66%) and Bancolombia (-1.58%) were among the biggest decliners.

The locally traded US dollar closed at 3,029.50 Colombian pesos, falling 0.56% after data in the United States showed that the annual inflation decelerated and distanced itself from the 2% target set by the Federal Reserve, lowering the chances of a new rate hike in the country this year.

by Agencia CMA Latam

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