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| 3/1/2010 12:00:00 AM

Colombia stocks seen falling after Court blocks Uribe candidacy

March 1st--Colombia's stock market is likely to fall on Monday as news that President Alvaro Uribe has been blocked from seeking a third term rattles investors.

Colombia stocks seen falling after Court blocks Uribe candidacy Colombia stocks seen falling after Court blocks Uribe candidacy
On Friday, seven of the nine judges of Colombia's Constitutional Court voted to reject the holding of a referendum that would have allowed Uribe to run again.

Uribe said he would abide by the Court's decision.

"I think they're going to through a period of some political uncertainty," said Alberto Ramos, a New York-based economist for Goldman Sachs. "But I think the perception is that whoever is going to succeed Uribe is going to have to run on a platform that is very similar policy approach."

"[The markets] might come off a little bit, but nothing major," Ramos added.

Jorge Zuniga, a Medellin-based market analyst with brokerage Asesores en Valores, said the benchmark IGBC stock index could fall to 11,400 points, from 11,725 points on Friday. 
 
Read more here.
 
Semana International delivers news about Colombia in English. Find more in our home.

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Petro vs. López Obrador, ¿cuál es la diferencia?

El recién elegido presidente de México, Andrés Manuel López Obrador, ha tenido una carrera muy parecida a la de Gustavo Petro. ¿Por qué uno pudo llegar al poder y el otro no?

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