The Colombian IGBC stock index Friday fell following an early market decline in New York after the U.S. government released a weaker-than-expected July nonfarm payrolls report.
The IGBC benchmark index fell 1.3% to 13,397.41 points. The Colcap index, which includes the largest companies by market capitalization, fell 1.3% to 1,580.41 points.
“The market here followed the U.S.,” said Melissa Mantilla, a market analyst with local brokerage Corredores Asociados.
The Dow Jones Industrial Average was down more than 150 points at one point Friday morning. The U.S. market recovered somewhat at the end of Friday’s session, but the Colombian market had already closed.
Shares of state-controlled oil company Ecopetrol SA (ECOPETROL.BO) fell 2.5% to 2,365 Colombian pesos ($1.85). Mantilla attributed the decline to falling oil price.
Light, sweet crude for September delivery settled down $1.31, or 1.6%, at $80.70 a barrel on the New York Mercantile Exchange, the lowest settlement price since July 30.
Preferred shares of Colombia’s largest bank Bancolombia SA (CIB) fell 2% to COP25,600.
The Colombian peso strengthened to COP1,814.90 from COP1,819.9 on Thursday.
The yield on the benchmark Colombian peso-denominated government bond, or TES, maturing in 2020, fell to 7.218% from 7.330% on Thursday. (Inti Landauro / Dow Jones)