COLOMBIA: Colcap Falls Slightly On Bancolombia's Downgrade By S&P

(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, traded down 0.12% near the end of the Thursday's trade at 1,470.94 points as Bancolombia's shares dropped after Standard & Poor's downgraded the company's credit rating.

Marcela Ramírez, an analyst at Acciones & Valores, noted that S&P's decision is influencing the performance of the bank's shares, which have shown volatility during the last few sessions.

The shares of ISA (+1.87%), Canacol (+1.33%), Cemargos (+1.30%), Grupo Aval (+0.39%), Ecopetrol (+0.26%), and Nutresa (+0.15%) are rising, while Preferencial Bancolombia (-1.75%) and Bancolombia (-1.62%) trades down.

Meanwhile, the locally traded U.S. dollar closed the day at 2,996.95 Colombian pesos, marking a 0.56% fall, due to a spike in oil prices abroad. Daniel Escobar, director of market strategies at Global Securities, noted, however, that the outlook for oil prices is neutral.