Viernes, 9 de diciembre de 2016

| 2009/01/06 00:00

Colombia's Stock Index Rises On Oil Price; Peso Strengthens

Jan 6 -- The Colombian benchmark IGBC stock index rose on Tuesday lifted by shares of state-controlled oil company Ecopetrol SA (ECOPETROL.BO), which were boosted by oil prices.

Colombia's Stock Index Rises On Oil Price; Peso Strengthens

The stock index rose 2.4% to 7,855.65 points, its highest level since Oct. 9.

"The price of oil is approaching $50 a barrel, which is much higher than a couple of weeks ago," Ricardo Perez, a market analyst with local brokerage Alianza Valores SA. He expects the price will fall again in the coming weeks, bringing down prices of Ecopetrol's shares.

Shares of Ecopetrol gained 2.5% to 2,090 Colombian pesos ($0.95).

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