COLOMBIA: Colcap Drops 0.17% On Fed Decision

By | September 22, 2017

Colcap, the primary index of the Colombian Stock Exchange, fell 0.17% Thursday, closing at 1,483.90 points, still reflecting Wednesday’s announcement by the United States Federal Reserve.

Ramses Pestanapalmett, an expert at Ultraserfinco, stated that the Fed’s objectives to gradually minimize its properties sheet provide for an improvement in the U.S. economy, enhancing the dollar and decreasing cravings for emerging markets in the area.

In the regional scene, Ecopetrol’s shares increased 0.36% after the business has confirmed that it started drilling the very first overseas oil well that runs directly, called Molusco, in the Caribbean Sea.

The shares of Celsia (+1.39%), Preferencial Bancolombia (+0.89%), and Bancolombia (+0.62%) also increased, while ETB (-3.20%), Canacol (-2.58%), Sura (-1.33%) and Cemex (-1.02%) fell.

The locally traded U.S. dollar closed the day at 2,915.20 Colombian pesos, marking a 0.83% boost, also tracking Fed’s announcement.

The product has actually been offered by InstaForex Company –

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