The Colcap index rallied for a win Tuesday after 3 days of losses. Though gains were minimal at 0.26%, volume jumped back to healthy levels of COP$182.3 billion. AviancaTaca led the day with a gain of 5.46% and Pacific Rubiales picked up 1.92%.
DANE reported imports were up 32.8% in July y-o-y, largely due to vehicle imports which increased 73.9% to US$582.5 million. A 33.4% increase was seen in capital goods and equipment. Though imports from the US rose above US$1 billion, the greatest percentage increase was seen from China where imports jumped more than 45% to US$707.5 million. The large increase is not surprising as ties between the two countries have been growing, especially in light of the eternally delayed FTA with the States.
The peso marched back after losing significant ground yesterday and closed at 1,813.48.