12.06.2018 23:11:45

COLOMBIA: Colcap Rises 0.17% Boosted By Bancolombia

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, rose 0.17%, closing at 1,550.56 points, boosted by Bancolombia's good performance.

Ramses Pestanapalmett, an analyst at Ultraserfinco, noted that the bank's shares went up due to the technical correction after the sustained decline that occurred last week, with a performance that was in line with the behavior of its ADR in the United States.

The shares of Canacol (+3.40%), ?xito (+2.11%), Preferencial Bancolombia (+1.99%), and Bancolombia (+1.39%) closed higher, while Ecopetrol (-1.31%) and Avianca (-1.28%) fell.

The locally traded U.S. dollar closed at 22,861.39 Colombian pesos, marking a 0.09% rise, following the historic meeting between U.S. President Donald Trump and his North Korean counterpart, Kim Jong Un.

Marcela Ramirez, an analyst at Acciones & Valores, said the greenback limits losses to its main peers as geopolitical tensions between the United States and North Korea diminish, with a market that remains positive in the face of negotiations regarding the Korean Peninsula denuclearization.