Colombia’s Colcap index surged 1.84% Monday along with global markets. The energy companies did particularly well as Petrominerales led the day with gains of 8.76%. Ecopetrol and Pacific Rubiales followed with gains of 3.94% and 2.45%, respectively. Volume wasn’t specifically notable, but reasonable nonetheless at COP140 billion.
The BVC announced they have cancelled the merger plans with the Bolsa de Valores de Lima, but will continue to develop MILA. They have indicated the potential to return to talks in the future.
The Board of Isagen approved a measure to raise up to $500 million in debt and list a Level 1 ADR in the United States. The debt will likely be issued in the U.S. as well given current interest and exchange rates benefitting the issuer. Isagen was up 4.55% today.
Late Friday, Davavidenda approved the issuance of what could be between COP500-800 billion of equity sometime in the 4th quarter of 2011.
The Peso strengthened against the dollar and closed at 1,787.00.