Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
  • About us
  • Support us
  • Contact Us
  • Intelligence
  • Advertising
  • Newsletter
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Economy

Colombian stocks’ rebound led by banks, oil Firms; Peso gains

by Adriaan Alsema August 10, 2011

Colombia economy

Colombian stocks rebounded Tuesday as worries of a global financial crisis receded some and investors moved back, at least temporarily, into riskier assets.

The Colcap index, a broad indicator of Colombia’s largest publicly traded firms, rose 2.8% to close at 1578.06 points. A day earlier, as global markets reeled on the news that Standard & Poor’s downgraded its rating on U.S. government debt for the first time ever, the Colcap index shed 3.3%.

Bancolombia, Colombia’s largest lending institution, saw its preferred shares surge 4.8% to COP27,240 as investors bet Monday’s selloff was overdone.

Another big gainer was Pacific Rubiales, a Canada-based oil firm that mostly operates in Colombia. It announced second quarter earnings Tuesday morning that showed net income was double market expectations. Rubiales shares rose 4.2% to close at COP43,840.

The Colombian peso, meanwhile, strengthened modestly to close at COP1,812.50 to the dollar from COP1,815.50 the day before.

The yield on Colombia’s peso-denominated bond due in July 2024 closed at 7.640% after ending a day earlier at 7.653%.

economy

Trending

  • Tensions in Colombia over lost COVID-19 vaccine shots

  • Colombia’s COVID-19 vaccination campaign shows first cracks

  • Coronavirus crisis bankrupted 500K of Colombia’s small businesses

Weekly interviews and news updates

Related articles

  • Colombia’s top bankers could face 4 years in prison, but evidence of tax evasion ignored

  • Colombia not considering new coronavirus lockdown

  • Duque goes blank as Colombia’s economic crisis turns catastrophic

  • Facebook
  • Twitter
  • Linkedin
  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top