Colombian stocks fell Monday as volatile shares of oil firm Pacific Rubiales (PRE.T) saw another day of sharp declines.
The IGBC index, considered the Colombian stock market’s benchmark, posted a 0.53% decline to close at 14479.66 points.
Shares of Pacific Rubiales, a Canada-based firm whose main assets are in Colombia, plunged in early March on news that it didn’t add as many oil reserves last year as the market was expecting. It managed to recover some of those losses over the past week, but its share price fell 3.1% Monday to end at COP51,400.
Meanwhile, the Colombian peso weakened to close at COP1,880.60 per U.S. dollar from Friday’s close of COP1,871.00.
The yield on the benchmark 2020 peso-denominated bond known as TES stood at 8.316% Monday, compared with 8.310% a day earlier.