Colombia’s Colcap index fell for a 5th straight day as 0.92% was shed to bring this year¡¦s decline to 12.38%. Volume was nearly equal to yesterday as COP$148 billion was traded.
Biomax led the day with gains of 1.85% on news of a deal with EPM (Empresas Publicas de Medellin) to supply diesel fuel to the La Sierra thermoelectric plant. The contract begins in December of this year and runs until November of 2016.
Cement production in May was up 14.8% year over year as it reached 933,300 tons and domestic sales were up 15.2% over the same period. In the current year through May production is up 14.1%.
The Peso strengthened against the dollar and closed the session at 1,766.20.
Author Michael Sutton is head of International Trading at Bolsa y Renta.