Colombian stocks were mostly flat Monday despite gains in oil shares while the peso gained against the dollar to close at its strongest level since January.
The IGBC index, the benchmark for the country, posted a 0.03% increase to close at 14367.88 points. The slight gain was fueled by shares of Pacific Rubiales Energy (PRE.T), the Toronto-based oil firm that ranks as Colombia’s largest independent crude producer. The company’s shares rose 0.99% to COP51,000. Ecopetrol SA (EC, ECP.T), Colombia’s state-run oil firm, climbed 0.39% to COP3,880.
The peso, meanwhile, strengthened against the dollar and closed at COP1,849.00 from COP1,871.35 a day earlier. Monday’s close marks the strongest level for the peso since January. The yield on the benchmark peso-denominated bond known as TES stood at 8.135% from 8.221% on Friday.