Colombia’s Colcap index picked up 0.22% in late action as COP$148 billion was traded on Wednesday. This marks the 6th straight session of gains for the Colombian index that was punished in the volatility of a couple weeks ago. Bancolombia was the market leader today as it increased 3.06%.
Davivienda announced a number of items today, some of which will be voted on at the shareholder’s meeting on August 26th. At issue is a vote to increase its issue of new preferencial shares as well as issuing ADR’s to be traded in the States. Additionally, Davivienda has plans to issue between COP$400 and COP$500 billion of new bonds next week.
July heavy construction index was 0.47%, or 0.51% greater than the same period last year. Transport and materials had the most significant impact on the index as the latter increased due to price increases in asphalt and other goods. The index is up 4.87% over the last 12 months.
After pushing above the 1800 mark last week, the Peso has returned to its strength against the dollar as it closed to 1,766.35.