The Colombian stock index opened Thursday up 4.1% following an increase
of the stock markets in New York. The benchmark IGBC stock index was
last up 3.6% to 7,211.36 points.
“The market here is following the increase in New York,” said Felipe
Campos, a market analyst with local brokerage Alianza Valores. “The
higher-than-expected third-quarter profit reported by Bancolombia also
contributed to the increase.”
The Dow Jones Industrial Average was last up more than 100 points.
Bancolombia on Wednesday reported its net profit in the third quarter
rose 16% from the previous year to 367 billion ($155 million). The
country’s largest brokerage, Interbolsa SA, expected a COP306 billion
net profit for the period.
The shares of Bancolombia rose more than 10% on Wednesday and were
suspended on Thursday morning for half an hour after some investors put
buy orders representing more than a 10% increase in the share price.
The Colombian peso strengthened to 2,355 to the dollar from COP2,361 on
Wednesday, while the yield on the 2020 benchmark peso-denominated
government stood at 13.040%. (Dow Jones)