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COLOMBIA: Colcap Falls 0.07% As Sura And Bancolombia Stocks Weigh

(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, fell 0.07% Wednesday, closing at 1,516.05 points due to poor performance from Sura and Bancolombia.

Erika Baquero, an analyst at Alianza Valores, noted that the Colcap fell despite the rebound in oil prices abroad, which boosted Ecopetrol's shares.

The shares of Ecopetrol (+3.54%), EEB (+0.75%), and ISA (+0.57%) are rising, while Grupo Aval (-1.55%), Avianca (-1.00%), and Preferencial Bancolombia (-0.47%) trade lower.

The locally traded U.S. dollar closed at 2,903.00 Colombian pesos, marking a 0.99% fall, due to a sustained rise in oil prices abroad. Wilson Tovar, an analyst at Acciones & Valores, noted that the oil rebound continued for the second consecutive day amid the rising tension in Iran and after a new pipeline explosion in Nigeria, favoring the rebound of emerging currencies such as the Colombian peso against to the greenback.

by Agencia CMA Latam

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