Colombia’s benchmark index rose Monday for a sixth straight session, on this occasion fueled by gains in the shares of Pacific Rubiales Energy (PRE.T), while the peso continued to strengthen against the dollar.
The Colcap index, the benchmark for Colombia’s most actively traded shares, rose 0.2% to end the session at 1714.26 points. The index has gained 9.08% so far this year after losing 14% in 2011.
On Monday the gains were led by Pacific Rubiales Energy, a Toronto-based oil firm that ranks as Colombia’s largest private crude producer. The company’s shares rose 1.91% to COP49,200.
Ecopetrol SA (EC, ECOPETROL.BO), the state-run oil firm, fell 1.28% to close at COP4,995.
The Colombian peso, meanwhile, continued to strengthen against the dollar and closed at COP1,773.6 to the dollar from COP1,778.6 a day earlier. The yield on Colombia’s peso-denominated bond due July 2024 closed at 7.373%, after beginning the session at 7.341%.