Colombian stocks climbed Tuesday, fueled by the first gains in four days for state-run oil firm Ecopetrol SA, while the peso weakened against the dollar.
The IGBC stock index, the benchmark for the country, posted a 0.76% increase to close at COP14935.58 points. Ecopetrol’s shares rose 1.2% to COP3,840.
Ecopetrol’s stock priced had been battered in recent days by the government’s announcement last week that it was examining the potential sale of an additional 10% stake in the company above the 20% already approved by congress in 2006.
Pacific Rubiales Energy Corp., an oil firm listed in Toronto and Bogota, rose 0.43% to COP60,400.
The Colombian peso, meanwhile, weakened to COP1,944.20 to the dollar from COP1916.96 a day earlier. The yield on Colombia’s benchmark, peso-denominated 2020 bind stood at 7.630% after opening at 7.570%. (Darcy Crowe / Dow Jones Newswires)