Colombia’s stock index rose Tuesday to its highest level since early last month on optimism about the country’s economy.
The Colombian IGBC stock index ended 0.3% higher at 11,250.10 points, its highest level since October 8, when it ended at 11,288.30 points. The Colcap index, which includes the largest companies by market capitalization, rose 0.3% to 1,314.81 points.
“There is an appetite for shares as the country’s companies seem to weather the crisis with little damage,” said David Santos, a market analyst with local brokerage Serfinco.
Preferred shares of Bancolombia SA rose 1.6% to 20,940 Colombian pesos (US$10.65).
Shares of the country’s stock exchange, Bolsa de Valores de Colombia SA, rose 4.5% to COP30.30. Santos said one of the main shareholders of the stock exchange sold its stake on the market on Tuesday.
On the debt market, the yield on Colombia’s 2020 peso-denominated government bond rose to 8.14% from 8.029% on Friday. The Colombian markets were closed on Monday.
The peso appreciated to COP1,967 against the dollar from COP1,969.05 on Friday.