20.09.201719:23:00UTC+00COLOMBIA: Colcap Drops 0.60% Due To Bancolombia And Avianca

Colcap, the main index of the Colombian Stock Exchange, fell 0.60% Wednesday, closing at 1,486.49 points due to the low performance of Bancolombia and Avianca.

Andr?s Fonseca, an analyst at Alianza Valores, said that investors maintained their profit-taking in Bancolombia's shares after the bank's sustained gains on the eve of the rebalancing of the FTSE and Hcolsel indexes.

Avianca closed the day with 1.19% losses after failing to reach an agreement with the pilots union, leading to a halt in their activity. Hern?n Rinc?n, Avianca's president, said at a press conference that the strike is costing US$ 2 million per day for the company.

During the day, investors also followed the U.S. Federal Reserve Bank's monetary policy decision that kept interest rates within a 1-1.25% range, as expected by the market.

The shares of Canacol (+1.31%), Ecopetrol (+0.73%), Banco de Bogot? (+0.32%), ?xito (+0.26%), and Cemargos (+0.17%) rose, while Bancolombia (-2.11%), Preferencial Bancolombia (-1.98%), and Avianca (-1.19%) fell.

The locally traded U.S. dollar closed the day at 2,891.15 Colombian pesos, marking a 0.37% fall. Agust?n Vera, an analyst at Global Securities, said that the Japanese yen and the Swiss franc, considered safe-haven assets, gained positions after comments by the U.S. President Donald Trump at the United Nations General Assembly.