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COLOMBIA: Colcap Falls 0.76% On U.S. Data And Political News

(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, fell 0.76% to 1,467.60 points Tuesday, tracking the downward trend of global markets while investors still assess the results of Sunday's legislative elections amid a local earnings season.

Analysts said that the rise in the consumer price index (CPI) of the United States, which grew by 0.2% in February, increases the odds of an interest rate hike by the Federal Reserve (Fed) at its meeting, scheduled for next week.

Celsia (+0.44%) launched the construction of Celsia Solar Bolivar, its second solar farm in Colombia, which will be located in the municipality of Santa Rosa de Lima, in the department of Bolívar.

Meanwhile, Davivienda (+0.34%) announced its consolidated results for the fourth quarter of 2017, in which it highlighted that the consolidated net profit was 360 billion pesos, an increase of 31.9% over the third quarter of 2017, but a decrease of 32.7% compared to the fourth quarter of 2016.

The shares of Bancolombia (-1.84%), Grupo Argos (-0.25%), ISA (-1.36%), and Nutresa (-1.57%) went lower, while Avianca (+2.05%) and Ecopetrol (+1.01%) closed higher.

The locally traded U.S. dollar closed at 2,853.98 Colombian pesos, marking a 0.24% rise due to the gains in oil prices abroad. Earlier, according to analysts at Alianza Valores, the greenback reacted negatively to inflation data from the United States.

by Agencia CMA Latam

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