Colombian stock exchange with a major breakthrough

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Colombian stock exchange with a major breakthrough

The Colombian Stock Exchange

According to the information of closure of the Colombian stock exchange (aka BVC or COLCAP), located in the most modern building in Carrera avenue within Bogotá, rose up in this week’s session to a 0,50% to quote, as it was the trend since the end of last month, above 1,400 points when it landed in the 1,474.70.

During the operative of this week, securities were negotiated for 73,360,63 million Colombian pesos, approximately 23,91 million American dollars for 2,111 operations.

On the other hand, , this week, the Colombian foreign exchange market, according to the sources consulted, opened its operations with a price above the 3,000 pesos per dollar, to settle in the quote at the end of the session at 3,061 pesos for every American dollar; closing operations at 3,048.10 pesos.

According to the sources consulted, this week the dollar denoted an average price of 3,052.44 pesos per unit, approximately 15,29 pesos less than the Representative market rate, in reference to the value of the dollar in the local Forex market. This was, for this week’s session, of 3,067.73 pesos per foreign currency.

During this week, there were very important events, the first of them was the speech of the Director of the Federal Reserve, Janet Yellen, before the United States Congress, more than what was expected from the increase of rates there wasn’t much else: she said that the economy is growing well to continue with the gradual rise in interest rates. All of this according to what Felipe Espitia reported, who is an economic analyst at the brokerage house “Alianza de Valores”.

Janet Yellen, president of the Federal Reserve System

Janet Yellen, FED

It’s also possible to see that oil has been very relevant, the oversupply of United States is beginning to exhaust, and that has helped the WTI to get close to 45 US dollars.

The Colombian Stock Market

With the information of the BVC (Colombian Stock Exchange), this was the behavior that we saw in the Colombian stock market.

During this week’s session stood Promigas with a breakthrough in the field of 3,64% for a price per share of 5,700 pesos. BBVA Colombia also rose when it quoted 260,00 pesos and grew a 1,96%. The value of equities of Bancolombia increased 1,82% to get to 32,480 pesos per share.

During the session of shares that closed unfortunately in red, we find ETB going down by 5,19%, with a price of 584 pesos by value. Cemex Latam Holdings went down by 1,36% to 11,640 pesos. Canacol Energy lost 1,33% to 10,360 pesos per share.

Bancolombia was highlighted with the greatest volume of negotiation to a balance of 12,690,78 million dollars, followed by it was ECOPETROL, that got 10,590, 69 million dollars yesterday.

According to Reuters agency, Janet Yellen who is president of the Federal Reserve System or FED indicated today before the specialized media that the US economy is in well condition to absorb the gradual increase of the additional rates.

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