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COLOMBIA: Colcap Falls 0.27% Tracking Ecopetrol And Bancolombia

(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, fell 0.27%, closing at 1,555.87 points, reflecting Ecopetrol and Bancolombia's shares price decline.

Rodrigo Sanchez, an analyst at Ultraserfinco, noted that the state-owned oil company faced profit-taking after oil price rises in the previous session and on the eve of dividends disbursement.

On Bancolombia, the analyst said that it presented a market correction after the rally that the bank had since the beginning of the week.

The shares ETB (+1.79%) and Cemex (+1.37%) closed higher, while Preferencial Bancolombia (-0.87%) and Ecopetrol (-0.84%) fell.

The locally traded U.S. dollar closed at 2,707.70 Colombian pesos, marking a 0.51% drop, due to a reduction in risk perception.

Marcela Ram?rez, an analyst at Acciones & Valores, said that the foreign exchange market was influenced by the easing of geopolitical tensions and the release of the monthly report of the Organization of the Petroleum Exporting Countries (OPEC) in which it has revised its forecast for supply growth upwards.

by Agencia CMA Latam

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