Colombian stocks finished the trading day higher on Thursday, with the benchmark COLCAP index advancing 3.90% to reach a fresh one-month high.
The market rally was driven by strength in Industrials, Services and Agriculture names. Among individual issues, Ecopetrol SA (BVC:ECOPETROL) led the gainers, climbing 4.06% - a rise of 115.00 points - to close at 2,950.00. Organizacion Terpel SA (BVC:TERPEL) also contributed to the upside, adding 2.67% or 480.00 points to finish at 18,480.00. Grupo de Inversiones Suramericana SA Preferred (BVC:PFGRUPSURA) was up 1.20%, gaining 500.00 points to end the session at 42,320.00.
On the downside, several names registered notable declines. Banco Davivienda Pf (BVC:PFDAVVNDA) fell 6.51%, a drop of 1,620.00 points, to close at 23,280.00. Bolsa De Valores De Colombia (BVC:BVC) declined 6.31%, losing 1,000.00 points to end the day at 14,860.00. Mineros SA (BVC:MINEROS) retreated 2.86% or 420.00 points to 14,280.00.
Market breadth was recorded in the session as follows: "Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 0 to 0."
Notably, shares of Ecopetrol SA reached three-year highs in the session, reflecting the stock's 4.06% rise to 2,950.00.
Commodities and currency moves
Commodity prices showed mixed movement during the session. US Coffee C for July delivery rose 2.66% - up 6.60 to $255.00. US cocoa for September delivery eased 0.96%, down 37.00 to $3,805.00. Gold futures for August advanced 2.43%, gaining 100.35 to trade at $4,233.65 per troy ounce.
Currency pairs relevant to Colombian markets moved modestly. The USD/COP exchange rate softened 0.08% to 3,497.13, while BRL/COP fell 0.11% to 685.91.
In broader currency benchmarks, the US Dollar Index Futures was down 0.23%, trading at 99.70 at the time reported.
Market context and takeaways
The session displayed a concentration of gains among energy and service sector names that pushed the COLCAP to a one-month peak, while some financial and market-related securities registered considerable losses. Commodity price movements were mixed, with coffee and gold higher and cocoa lower, and the US dollar softened slightly versus local currency pairs.