The Colcap index finished relatively flat Thursday, down 0.05% on average volume of COP$166 billion. Fabricato and AviancaTaca led the market with advances of 2.59% and 1.32%, respectively.
State statistics agency DANE reported construction employment was up briskly in 1Q2011, as expected based on the significant y/y increase in building permits earlier this year. 346,000 more workers were employed in construction during the 1st quarter than were employed one year earlier, the most significant increases coming in Monteria, Bogota and Cartagena.
The Peso continues to appreciate as it moved back toward its recent highs closing today at 1,784.10.
Author Michael Sutton is head of International Trading at Bolsa y Renta.