(Agencia CMA Latam) - Colcap, the main index of the Colombian Stock Exchange, fell 1.27% near closing Friday at 1,456.70 points, still reflecting Colombia's sovereign rating downgrade by Standard & Poor's.
Ramses Pestanapalmett, an analyst at Ultraserfinco, noted that the market was still reflecting the downgraded, revealed earlier this week.
All Colcap's constituents were trading down. The shares of Promigas (-4.26%), ETB (-2.43%), Bancolombia (-2.05%), Preferencial Bancolombia (-1.44%), Sura (-1.40%), and Ecopetrol (-1.03%) are falling the most.
Meanwhile, the locally traded U.S. dollar closed at 2,999.80 Colombian pesos, marking a 0.09% rise, due to uncertainty related to the upcoming rate hike of the Federal Reserve of the United States (Fed) and inflation forecasts in the United States.
by Agencia CMA Latam
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