Story
Colombian Stocks Advance as COLCAP Index Rises 0.58%
Summary
Colombia's benchmark COLCAP index closed higher on Friday, supported by gains in the industrial, services, and agriculture sectors. The advance occurred as the Colombian peso weakened against the U.S. dollar and key commodity prices rose.
Colombia's benchmark stock index, the COLCAP, advanced at the close of trading on Friday, gaining 0.58%. The positive session was driven by broad-based strength, with the Industrials, Services, and Agriculture sectors leading the gains.
Session Highlights
Among the index's top performers, shares of Bolsa De Valores De Colombia (BVC:BVC), the stock exchange operator, led the advance, climbing 2.35%. Other notable gainers included food processing company Grupo Nutresa SA (BVC:NUTRESA), which added 2.06%, and financial conglomerate Grupo Bolivar SA (BVC:GRUBOLIVAR), which rose 1.60%.
On the other end of the spectrum, telecommunications firm Etb (BVC:ETB) was the session's worst performer, falling 6.00%. It was followed by declines in mining company Mineros SA (BVC:MINEROS), which dropped 2.98%, and energy provider Celsia SA (BVC:CELSIA), which lost 2.43%.
AdCurrency and Commodity Markets
The equity market gains came alongside notable movements in currency and commodity markets. The Colombian peso weakened against the U.S. dollar, with the USD/COP pair rising 0.92% to 3,271.49. Meanwhile, the US Dollar Index Futures saw a marginal gain of 0.01%.
In commodities, prices for products significant to the region saw strong gains. US coffee C futures for September delivery rose 2.72%, while US cocoa futures for September delivery jumped 4.63%. Gold futures for August delivery also advanced, trading 0.77% higher at $4,023.00 a troy ounce.
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