The Colombian Colcap index spent much of Friday in positive territory before turning south and finishing negative to the tune of 0.82%. The index is down 5.26% year to date. Volume was extremely light as only USD $58 million traded hands on the Colombian Stock Exchange.
Economic news around the world was rather muted as the only relevant announcements were an upward revision to U.S. GDP in the 4th quarter of last year to 3.1% and a slightly lower figure than was expected in the University of Michigan consumer confidence index, 67.5.
The S&P500 index in the U.S. gained 0.32% today and closed at 1,313.80. Markets in Japan were up 1.07% and in Europe, markets were also quiet despite worsening news coming out of Portugal. It’s looking more apparent that it could become the next country in line for a bailout as financing their debts is becoming a harder task.
The peso gave a little ground back to the dollar and closed at 1,871.00, a 0.31% loss on the day.
Oil closed above $105/barrel for the third day in a row as the news out of the middle east hasn’t shifted winds in either direction over the last 24 hours. Gold finished the day just under $1,430/ounce and coffee was a winner on the day as it increased 1.49%. Juan Valdez surely has a smile on his face heading into the weekend.