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Economy

Colombian markets rally after European aid pledge

by Alex Hocking May 10, 2010

money, colombia, stocks

Colombian markets picked up early Monday as European policymakers and the International Monetary Fund pledged €750 billion ($963.28 billion) in aid for heavily indebted countries, reports The Wall Street Journal.

European efforts to restore investor confidence in the euro contributed to the 1.9% rise of the Colombian IGBC index to 12236.71 points at 11:15 AM EDT, while the Colcap index, which includes the largest companies by market capitalization, rose 2.1% to 1441.76 points.

Colombian stocks fell Friday in response to economic concerns in Europe.

The peso has appreciated to 1987.25 pesos to the dollar from 2,023.1 on Friday.

Colombia pesodollareuromarketstock

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