Colombia’s Colcap index fell 0.50% in trading Thursday on light volume of COP$78 billion.
Bancolombia was up 0.68%, but not enough to balance the effects of Pacific Rubiales and Ecopetrol who were down 0.53% and 0.79%, respectively.
GDP was reported to be 5.1% in the 1Q of 2011. Oil and mining was again the driving force with growth of 9.4% followed by agriculture (7.8%) and service businesses (6.7%). GDP growth in the 1Q of last year was 4.1%.
The peso backed up and closed the day at 1,787.15.
Author Michael Sutton is head of International Trading at Bolsa y Renta.