The Colombian benchmark IGBC stock index fell Monday, dragged down by the price of shares of state-controlled oil company Ecopetrol SA.
The IGBC stock index fell 0.6% to end at 10,845.08 points, while shares of Ecopetrol fell 1.1% to 2,665 Colombian pesos ($1.38).
The shares of Ecopetrol fell after the price of light, sweet crude oil for delivery in October settled 3.2% lower at $69.71 a barrel on the New York Mercantile Exchange, said Carmen Salcedo, a market analyst with holding company Corficolombiana SA.
“The local market also followed what happened in New York,” Salcedo said. The Dow Jones Industrial Average fell about 40 points.
Shares of state-controlled telephone company Empresa de Telecomunicaciones de Bogota SA (ETB.BO), or ETB, rose 1.7% to COP1,170.
On the currency market, the Colombian peso appreciated to COP1,933 against the dollar from COP1,949.56 Friday.
The yield on the benchmark government peso-denominated bond ended at 9.256%, down from 9.52% Friday. (Dow Jones)
