COLOMBIA: Blue Chips Fall And Lead The Colcap Down Despite Positive Earnings

(RTTNews) - Colcap, the benchmark stock market index in Colombia, fell 0.33% to 1,520.52 points Friday, in spite of positive earnings from Corficolombiana and Grupo Aval. The index was weighed by price declines in heavyweight constituents, like Ecopetrol and Bancolombia, according to David Santos, an analyst at Compass Group.

Corficolombiana first-quarter net profit rose 40% from a year earlier, while Grupo Aval net income grew more modestly - rising 1.8% - but beat market estimates, Santos added.

Cemex (3.88%), Grupo Aval (1.25%) and Corficolombiana (0.78%) had the best performances of the session, while Ecopetrol (-0.63%) and Preferencial Bancolombia (-0,61%) ended lower. In the week, the Colcap posted a 1.90% decline.

The locally traded U.S. dollar increased 0.58%, to 2,922.00 pesos, as higher interest rates in Treasury bonds.