The markets on Friday had a standard day, again, as the markets in the US shed roughly 1.5% whereas Colombia’s Colcap index lost 0.52% on below average volume of COP$149.3 billion.
Though the majority of names were flat or down, a positive day for Ecopetrol who gained 0.42% helped pare the losses. AviancaTaca and Bancolombia suffered losses of 3.76% and 3.33%, respectively. AviancaTaca has fallen roughly 20% since its IPO several months ago despite showing strong growth in their business.
Manufacturing production in June picked up 2.2% over the same period last year, non-metallic industry and sugar refining led the way with gains of 18.7% and 26.1%, respectively.
June sales for retailers increased 11.9% as items for the home (42.3%) and automobiles (27.0%) have been sharply higher all year. Sales over the past 12 months have increased 15%, and 8.6% ex-autos showing both the strength of the consumer, but also a growing middle class.
The Peso backed up again today and closed at 1,783.00.
