Colcap, the main index of the Colombian Stock Exchange, traded down 0.12% near the end of the Thursday’s trade at 1,470.94 points as Bancolombia’s shares dropped after Standard & Poor’s downgraded the company’s credit rating.
Marcela Ram?rez, an analyst at Acciones & Valores, noted that S&P’s decision is influencing the performance of the bank’s shares, which have shown volatility during the last few sessions.
The shares of ISA (+1.87%), Canacol (+1.33%), Cemargos (+1.30%), Grupo Aval (+0.39%), Ecopetrol (+0.26%), and Nutresa (+0.15%) are rising, while Preferencial Bancolombia (-1.75%) and Bancolombia (-1.62%) trades down.
Meanwhile, the locally traded U.S. dollar closed the day at 2,996.95 Colombian pesos, marking a 0.56% fall, due to a spike in oil prices abroad. Daniel Escobar, director of market strategies at Global Securities, noted, however, that the outlook for oil prices is neutral.
The material has been provided by InstaForex Company – www.instaforex.com
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