Colombian stocks declined for a fourth straight session Thursday, once again driven lower by a fall in oil and financial shares, while the peso strengthened slightly against the dollar.
The Colcap index, the benchmark measure for Colombia’s blue-chip shares, fell 0.76% in the session to 1,233 points. The index, which rose nearly 35% in 2010, has lost 15% so far this year.
The decline Thursday was led by Pacific Rubiales Energy, a Toronto-based oil firm and Colombia’s largest independent oil producer. The company’s shares fell 4.1% to COP33,860.
Bancolombia SA, Colombia’s largest bank, dropped 1.5% to COP28,180.
The Colombian peso, meanwhile, strengthened slightly against the greenback and closed at COP1,935.20 from COP1,937.60 a day earlier. The yield on Colombia’s peso-denominated bond due July 2020 closed at 7.594%, after opening the session at 7.610%.
