The bloodbath continues in markets across the world and it didn’t spare Colombia. The Colcap index dropped 2.64% to send it into double digit losses on the year. Volume was above recent daily averages as COP$148.3 billion traded hands.
Grupo Aval (+1.95%) and Fabricato (+1.43%) weathered the storm, while the Canadian oil companies, Canacol (-5.35%) and Pacific Rubiales (-4.65%) were hardest hit.
Though it has been discussed as a possibility, the BVC announced late Friday that they are working with the BOVESPA to explore ways to link equity, fixed income and derivative trading on the exchanges.
The peso closed weaker today at 1,770.00.
Author Michael Sutton is head of International Trading at Bolsa y Renta.