Colombian stocks fell Monday due to a drop in locally-traded shares of oil company Pacific Rubiales Energy (PRE.T, PEGFF).
The IGBC index, considered the Colombian stock market’s benchmark, declined 0.63% to close at 15283.51 points.
Shares of Pacific Rubiales, a Canada-based firm that trades in Toronto and Bogota and whose main assets are in Colombia, fell 1.91% to COP65,600. The company’s shares rose sharply in recent weeks due to the continuing turmoil in the Middle East, which have caused global oil prices to spike.
The Colombian peso weakened a hair against the dollar to close at COP1,896.00 Monday from COP1,894.95 for $1 Friday. The yield on the benchmark 2020 peso-denominated bond known as TES stood at 8.210% Monday, compared with 8.346% Friday.