Colombia’s Colcap index fell yet again Tuesday for the fourth trading session in a row. The index neared 1,700 on its way to finishing at 1,708.76, down 0.75%, with very light volume of $58.9 million.
News out of Colombia was positive today as GNCH (known as Chocolates) was included among 375 companies around the world for its strong sustainability practices based on innovation and competitiveness. Additionally, Grupo Suramericana was upgraded by Standard and Poor’s to BBB-. The investment grade rating follows the upgrade of Colombia’s sovereign debt one week ago today.
All this was on the heels of a tough day in Europe for Greece and Portugal. The financial plight of each continues as Portugal was downgraded from BBB to BBB- and Greece to BB- from BB+.
The S&P 500 index in the States found its way higher by almost the equally opposite percentage of the Colcap index. The 0.71% increase brought the index up to 1,319.44. The rest of the world was relatively quiet.
The peso fell about 5.5 pesos to the dollar today as it closed at 1,885.50
Oil pared about a third of it’s losses from Monday as it rose 0.48% to around $104.50/barrel. Most commodities with the exception of the crops were down today. Corn, soy, and wheat each had positive gains.