08.11.201718:13:00UTC+00COLOMBIA: Colcap On Slight Rise Ahead Of Bancolombia Quarterly Result

Colcap, the leading index of the Colombian Stock Exchange, slightly increased (+0.06%) during Wednesday afternoon, trading at 1,435.90 points, due to Bancolombia's good performance.

Ramses Pestanapalmett, an analyst at Ultraserfinco, indicated that the bank continues to rise for the second consecutive day due to a market correction due to the attractive price of its shares.

Meanwhile, the Colombian state-owned oil company Ecopetrol stocks go through a profit-taking movement after reporting a 1 trillion pesos (US$ 331 million) net income in its results for the third quarter of 2017, an increase of 338% compared to the same period of 2016.

The shares of Promigas (+3.55%), Cemargos (+3.04%), Sura (+2.45%), Davivienda (+1.76%), and Preferencial Bancolombia (+1.33%) are on the rise, while Ecopetrol (-3.30%) and Avianca (-1,71%) are falling.

The locally traded U.S. dollar closed at 3,019.00 Colombian pesos, marking a 0.68% fall, in the middle of an Asian tour by U.S. President Donald Trump. Wilson Tovar, an analyst at Acciones & Valores, said that North Korea is expected to be a topic of discussion on Trump's agenda in Asia.