Colombia’s Colcap index gained 1.14% on volume of COP170.6 billion. Ecopetrol led the index higher with an increase of 2.82%, while ETB pushed ahead with gains of 5.43%.
Canacol announced an agreement to farm out 30% of the participation in exchange for 60% of the costs at 2 blocks located in Cuenca del Alto Magdalena. The agreement with Sintana Energy will save enough capital for the Canadian firm to explore other blocks in Colombia.
Dane reported the Heavy Construction Price Index increased 0.53% in August, whereas it was down 0.81% the same month a year prior. Materials showed the largest jump with price increases of 0.83% and transportation of 0.37%. On the current year, the index is up 6.87%.
The peso gained back a portion of its weakness yesterday as it closed at 1,820.10.