COLOMBIA: Colcap Drops 0.10% Under Financial Pressure

Colcap, the main index of the Colombian Stock Exchange, fell 0.10% Wednesday, closing at 1,481.24 points, due to low financial performance.

Ramses Testanapalmett, an analyst at Ultraserfinco, said that the quarterly reports by the most of the financial companies evidenced that the sector is experiencing a portfolio deterioration.

Avianca rose 0.37% after being known that it will begin to operate a new Santa Marta-C?li flight.

Meanwhile, Grupo Argos fell 0.19% after reporting that it closed the Compa??a de Puertos Asociados (Compas) 50% sale operation.

The shares of Canacol (+1.97%), Bancolombia (+1.66%), Conconcreto (+0.97%), Ecopetrol (+0.73%), Avianca (+0.37%) and Sura (+0.05%) rose (-1.52%), Corficolombiana (-1.41%), Nutresa (-0.81%), Davivienda (-0.78%) and ETB (-0.73%) fell.

The locally traded U.S. dollar closed at 2,981.00 Colombian pesos, marking a 0.13% fall, due to oil prices spike abroad.

The material has been provided by InstaForex Company –

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