Colombia stocks retreated modestly Tuesday, moving in virtual lockstep with U.S. stocks as investors worried that Slovakia wouldn’t approve expansion plans for a European bailout fund.
As expected, Slovakia later Tuesday rejected the euro-zone rescue fund.
The Colcap index, considered the Colombian Stock Exchange’s benchmark index, declined 0.35% to 1,596.70 points.
With oil prices also tracking U.S. stocks lower, local oil company shares saw some of the biggest declines. Shares of energy company Pacific Rubiales, which operates Colombia’s highest-producing oil field, fell 0.3% to COP42,040, while state-controlled Ecopetrol shares declined 0.6% to COP3,900.
The Colombian peso, meanwhile, closed at COP1,915.00 to the dollar, making it slightly weaker from COP1,913.00 a day earlier.
The yield on Colombia’s peso-denominated bond due July 2024 closed at 7.473%, after opening the session at 7.470%.
