The Colcap index added 0.28% Wednesday on relatively heavy volume of $112 million. The first IPO of the year, AviancaTaca led volume in the markets on its first day of trading.
After increasing nearly 18% on the open, it fell back down to a modest gain of 6% closing at COP $5,300. Fabricato continued its streak as it added 4%, its up 93.31% on the year.
The economy in Colombia continues to show strong growth as a recent opinion survey conducted by ANDI showed industrial production expanded 6.1% in the first quarter of 2011.
The dollar strengthened for the fourth trading session in a row as it closed today at 1,812.10, a 1.40% increase on the day.
Oil had a painful decline as it shed 4.75% to leave a barrel trading under $100. Gold, silver, coffee and other agricultural products were also down in trading paring some of the gains made Tuesday.