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COLOMBIA: Colcap Trades 0.67% Higher On Ecopetrol And Bancolombia

(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, was up 0.67% at 1,515.03 points near the end of Wednesday's trade, boosted by the good performance of Ecopetrol and Bancolombia.

Erika Baquero, an analyst at Alianza Valores, noted that the rise above 2% in oil prices abroad plus the good performance of Ecopetrol's ADRs in Wall Street keep the shares of the state-owned oil company up. According to her, the behavior of Bancolombia's shares is also in line with the good performance of its ADRs on the New York Stock Exchange.

The shares of Ecopetrol (+3.77%) and Preferencial Bancolombia (+1.65%) are rising the most, while Banco de Bogotá (-2.33%) and Éxito (-1.48%) trade down.

The locally traded U.S. dollar closed at 2,870.00 Colombian pesos, marking a 1.21% fall, after the release of inflation data in the United States. Wilson Tovar, an analyst at Acciones & Valores, noted that U.S. inflation in January rose more than economists had predicted.

by Agencia CMA Latam

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