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COLOMBIA: Colcap Trades Near Stability Supported By Bancolombia's Rise

(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, was up slightly (+0.08%), trading at 1,448.57 points near to the closing on Thursday, supported by Bancolombia stocks' good performance.

Erika Baquero, an analyst at Alianza Valores, noted that Bancolombia's shares supported the Colcap, which has hit by Ecopetrol's share decline after a 2.5% oil price decrease.

The shares of Avianca (+2.22%), Preferencial Bancolombia (+1.87%), Bancolombia (+1.04%), and Nutresa (+0.65%) are rising, while Canacol (-1.00%) and Ecopetrol (-0.84%) are falling.

The locally traded U.S. dollar closed the day at 3,010.00 Colombian pesos, marking a 0.45% rise due to the drop in oil prices abroad.

Wilson Tovar, an analyst at Acciones & Valores, said that the drop in oil prices after the release of crude inventories data in the United States favors the greenback's rebound against emerging currencies such as the Colombian peso.

by Agencia CMA Latam

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