Colombian markets rally after European aid pledge

Colombian markets picked up early Monday as European policymakers and the International Monetary Fund pledged €750 billion ($963.28 billion) in aid for heavily indebted countries, reports The Wall Street Journal.

European efforts to restore investor confidence in the euro contributed to the 1.9% rise of the Colombian IGBC index to 12236.71 points at 11:15 AM EDT, while the Colcap index, which includes the largest companies by market capitalization, rose 2.1% to 1441.76 points.

Colombian stocks fell Friday in response to economic concerns in Europe.

The peso has appreciated to 1987.25 pesos to the dollar from 2,023.1 on Friday.

Related posts

Cautious optimism about Colombia’s recovery from coronavirus crisis

‘Colombia’s largest banking corporation evaded money laundering regulations’

Colombia pursues 5-year coronavirus recovery plan