The Colombian benchmark IGBC stock index rose Friday following the increase on the New York market.
The Colombian benchmark IGBC stock index ended up 0.2% at 11,216.45 points, its highest level since Oct. 8. The Colcap, which includes the largest companies by market capitalization, rose 0.2% to 1,311.43 points.
“The market here followed what happened in New York,” said Felipe Campos, a market analyst with local brokerage Alianza Valores.
In New York, the Dow Jones Industrial Average rose 73 points.
Most-traded shares were those of state-controlled telephone company Empresa de Telecomunicaciones de Bogota SA, which rose 0.4% to 1,155 Colombian pesos (US$0.59). They were up 19% on Thursday after a court authorized the process of the company’s partial privatization to continue.
Shares of financial holding company Grupo de Inversiones Suramericana SA (GRUPOSURA.BO) rose 0.7% to COP23,400.
The Colombian peso weakened to COP1,969.05 to the dollar from COP1,967.25 on the day before.
The yield on the benchmark peso-denominated government bond maturing in 2020 rose to 8.029% from 8.022% on Thursday. (Dow Jones)