Colombian Stocks Fall, Led by Ecopetrol; Peso Weakens
07/09/2012| 06:32pm US/Eastern
BOGOTA--Colombian stocks fell Monday, pushed lower by a decline in oil and financial shares, while the peso weakened slightly against the dollar.
The Colcap index, which tracks Colombia's top publicly traded companies, fell 0.43% in the session to 1660.03 points. The Colcap has gained 5.65% so far this year.
The decline was the result of a drop in the share price of state-run oil company Ecopetrol SA (EC, ECOPETROL.BO), which was by far the most heavily traded share in the index. Ecopetrol dropped 0.20% to end the session at 4,990 Colombian pesos ($2.79).
The share price of Bancolombia SA (CIB, BCOLOMBIA.BO), the country's largest lender, fell 1.37% to COP27,420.
The Colombian peso, meanwhile, weakened to COP1,789.80 to the dollar from COP1,785.20 on Friday. The yield on Colombia's peso-denominated bond due July 2024 closed at 6.990% after ending the previous session at 6.925%.
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