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Colombia's COLCAP slips 0.86% to a one-month low as Ecopetrol sinks 4%
Banks, investment and utility stocks dragged Bogotá's main index lower on Thursday, even as miner Mineros jumped nearly 8%.
Colombia's main stock index, the COLCAP, fell 0.86% at Thursday's close and landed at its lowest level in a month. Losses in financial, investment and public services companies did most of the damage.
Oil giant Ecopetrol took the biggest hit among the standout movers. Its shares dropped 4.08%, or 110 points, to finish at 2,585. Telecom firm ETB slid 4.07% to 118, and Grupo Aval's preferred shares lost 2.62% to 706.
Not everything fell. Gold and silver miner Mineros led the gainers, rising 7.71% to 22,060. Cementos Argos gained 2.17% to 11,280, and fuel retailer Terpel added 1.64% to 18,580.
Why should everyday readers care? The COLCAP is a quick health check on Colombia's biggest listed companies. Ecopetrol is a heavyweight in that group, so a sharp drop in its price can pull the whole index down and touch the pensions and funds that hold these shares.
Currency and commodity moves added context. The US dollar rose 0.40% against the Colombian peso to 3,241.78, which makes imports and dollar-linked costs a little pricier. The Brazilian real eased 0.30% against the peso to 589.00.
In commodities, December US coffee futures, a key product for Colombia, fell 0.84% to $277.40. Cocoa dropped 5.11% to $5,177, while December gold futures climbed 0.66% to $4,099.80 per troy ounce. The US Dollar Index edged up 0.06% to 101.49.
Source: Investing.com
