The Colcap continued the gains from last week as it rose 0.53% on volume of COP$139 billion. Gruposura led the strength in the index as it gained
2.58% while Fabricato again led the day with gains of 5.30%.
The Producer Price Index in Colombia fell 0.17% in June led by declining prices in the mining sector as well as fisheries. However, the index is up 3.90%
on the year and 4.68% in the trailing twelve months. Inflation concerns have led the Banca de la Republica to raise key rates this year to 4.25%. Consumer Price Index figures will be announced later this evening.
The recent offering of Nutresa shares resulted in demand of COP$8.98 trillion, 17 times higher than what was being offered.
The Peso declined today to 1,770.00.
Author Michael Sutton is head of International Trading at Bolsa y Renta.
