COLOMBIA: Colcap Falls 0.70% Friday, Weighed By Bancolombia

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, dropped 0.70% Friday, closing at 1,561.45 points due to the fall of Bancolombia. During the week, the Colcap rose 1.49%.

Ramses Pestanapalmett, an analyst at Ultraserfinco, noted that Bancolombia's stocks fell as a result of a market correction, while Ecopetrol closed stable, supported by oil prices abroad and despite the gains recorded earlier by the state-owned oil company.

The shares of Promigas (+2.96%) rose, while Avianca (-1.64%), Preferencial Bancolombia (-1.57%), and Davivienda (-1.44%) fell.

The locally traded U.S. dollar closed at 2.761.10 Colombian pesos, marking a 1.02% rise, amid reports that the U.S. government could impose measures to curb Chinese investments in the country.