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Colcap, the main index of the Colombian Stock Exchange, rose 0.48% near the end of Thursday's session, trading at 1,532.55 points, tracking Bancolombia and Ecopetrol shares.
Erika Baquero, an analyst at Alianza Valores, said that Bancolombia's good corporate results for the fourth quarter favored its rebound. Meanwhile, Ecopetrol rose more than 3% boosted by oil prices gains abroad.
Bancolombia net profit fell 20.25% in the fourth quarter from a year before, to 902 billion pesos (US$ 313.6 million), but traders viewed the earnings as positive, since the 2016 results were boosted by a tax credit.
Grupo Argos (-0.79%) reported a net loss of 28.7 billion pesos in the fourth quarter of 2017, from a 168.477 billion pesos profit obtained in the same period of 2016.
Grupo ?xito (-0.23%) reported a consolidated net profit for the fourth quarter of 2017 of 187.374 billion pesos, a fall of 2.15% in the same comparison basis.
The locally traded U.S. dollar closed at 2,860.00 Colombian pesos, marking a 0.74% drop, after the release of data on the oil inventories in the United States. Wilson Tovar, an analyst at Acciones & Valores, said that the drop in U.S. oil inventories valued the commodity abroad, favoring the upturn in emerging currencies such as the Colombian peso against the greenback.
