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COLOMBIA: Colcap Falls 1.22% As Local Issues Raise Risk Aversion

(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, fell 1.22% near the end of Thursday's session to 1,518.42 points.

Risk aversion increased after attacks on the country's oil infrastructure and the suspension of peace talks between the government and the National Liberation Army (ELN) guerrilla group, said Ramses Pestanapalmett, an analyst at Ultraserfinco.

The shares of Ecopetrol (-3.94%), Canacol (-2.99%), Sura (-2.28%), Cemargos (-2,24%), Preferencial Bancolombia (-1.83%), Davivienda (-0.82%), and Grupo Aval (-0.39%) weighed on the Colcap.

The locally traded U.S. dollar closed at 2,856.43 Colombian pesos, marking a 1.14% drop, due to a spike in oil prices abroad. Natalia Granados, an analyst at Global Securities, noted that oil inventories fell for the eighth consecutive week in the United States.

by Agencia CMA Latam

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