Colombian stocks rose Friday, fueled by gains in financial sector stocks, while the peso continued to retreat against the dollar.
The IGBC index, which encompasses Colombia’s blue-chip firms, rose 0.11% to 14443.58 points. It was the first session of gains in three days for the index as Colombian stocks continue to suffer in 2011. Since the beginning of the year Colombian stocks have lost 7.08%.
The gains Friday were led by Bancolombia SA, Colombia’s largest bank. Bancolombia’s preferred shares rose 0.85% to COP26,220.
The peso, meanwhile, continued to gain against the dollar and closed at COP1,887.00 to the dollar from 1,881.05 on Thursday. The yield on the benchmark peso-denominated bond due 2020 stood at 8.100% from 8.129% a day earlier.