COLOMBIA: Colcap Rises 0.15%, Boosted Again By Bancolombia Performance

Colcap, the main index of the Colombian Stock Exchange, rose 0.15% Wednesday, closing at 1,507.42 points, driven by oil prices abroad and Bancolombia's shares.

Felipe Espitia, an analyst at Alianza Valores, said Bancolombia's shares rallied after yesterday's profit-taking to resume the bullish trend they had been showing since the end of last week, boosted by the rebalancing in the FTSE index, in which it will take part from September 15.

Meanwhile, Colombian President Juan Manuel Santos said today that the recent increase in shares traded on the local stock exchange was a result of greater confidence in the country and support of investors for the good performance and prospects of the economy.

The shares of Avianca (+2.76%), Preferencial Bancolombia (+1.55%), Bancolombia (+1.24%), Cemex (+1.22%), Canacol (+1.11%), and Ecopetrol (+0.36%) rose, while ETB (-2.17%), Sura (-1.32%), and Cemargos (-0.94%).

The locally traded U.S. dollar closed at 2,913.70 Colombian pesos, marking a 0.69% fall, due to a rebound in oil prices abroad.

News are provided by InstaForex