(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, was trading 0.35% higher near closing Friday, at 1,441.31 points on the good performance of financials and Avianca stocks.
Andrés Fonseca, an analyst at Alianza Valores, said that the Colcap was rising due to the strong performance recorded by the financial sector. Fonseca highlighted the good performance of Avianca shares (+1.59%) leading the equity market in Colombia for the second consecutive day, following the release of its quarterly results.
Meanwhile, Ecopetrol (+0.29%) reported that its subsidiary in the United States, Ecopetrol America, was awarded four blocks for the deepwater exploration of hydrocarbons in the Gulf of Mexico.
The shares of Sura (+1.40%), Conconcreto (+1.01%), Preferencial Bancolombia (+0.97%), Grupo Aval (+0.78%), Bancolombia (+0.57%), and ISA (+0.45%), were also rising.
In the foreign exchange market, the locally traded U.S. dollar closed at 3,001.05 Colombian pesos, marking a 0.47% fall, amid demand for emerging currencies and the tax reform in the United States. Wilson Tovar, an analyst at Acciones & Valores, noted that the greenback shows a downward trend since the beginning of the week.
by Agencia CMA Latam
For comments and feedback: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.