Markets across the globe had a positive day overall with the EUROSTOXX jumping ahead 1.52% and the S&P500 increasing 0.93%.
Economic news out the States was strong as the number of new weekly unemployment applications dropped to 382,000, the lowest level seen since 2008. The news hasn’t been so good across the pond as Portugal’s government rejected the austerity measures proposed there by the Prime Minister leading Fitch to drop their rating 2 levels to A-.
The Colcap was relatively flat today as it dropped 0.06% to 1,742.05. A few of the usually lighter traded names had strong days, Tablemac led the way up with gains of 9.62% on unusually higher volume for it. Exito and Biomax followed with strong days of 3.26% and 2.66%, respectively. Fourth quarter and year end GDP figures were announced today and showed production was slightly better than what was expected. 4th quarter GDP was 4.6%, giving Colombia 2010 GDP growth of 4.3%. The mining sector led the way with China-esque gains of 11.1%. Agriculture production came in on the bottom of the pack as it registered no gains last year.
The peso was quiet again today and almost unchanged as strengthened to 1,865.30.
Oil was down a few pennies, though it has held its gains above $105/barrel for the time being. A few of the less popular, but very necessary commodities registered strong gains today. Cotton, coffee, corn, and wheat were all up more than 3%.