Colombian equities finished lower on Wednesday, driven by weakness in Financials, Investment and Public Services sectors that pulled the market down as trading wrapped up.
The COLCAP, Colombia's benchmark stock index, closed down 1.03%, registering a new three-month low for the index.
At the individual stock level, energy major Ecopetrol SA (BVC:ECO) was the session's strongest performer on the COLCAP, climbing 0.42% or 10.00 points to finish at 2,380.00. Cementos Argos SA (BVC:CCB) added 0.17% or 20.00 points to close at 11,620.00. Grupo Argos SA (BVC:ARG) was unchanged, ending the session flat at 15,420.00.
The heaviest declines were concentrated among several large-cap names. Promigas (BVC:PMG) fell 3.99% or 260.00 points to close at 6,250.00. Grupo de Inversiones Suramericana SA (BVC:SIS) dropped 3.05% or 1,580.00 points to end at 50,200.00, while its preferred shares, Grupo de Inversiones Suramericana SA Preferred (BVC:SIS_p), declined 2.79% or 1,160.00 points to 40,400.00.
Market breadth was negative: declining issues outnumbered advancing ones on the Colombia Stock Exchange by roughly 1 to 0.
In commodities trading, US coffee C for July delivery was unchanged at $290.70. US cocoa for delivery in July rose 0.74% or 25.00 to $3,405.00. The June Gold Futures contract fell 1.11% or 51.10 to trade at $4,557.30 a troy ounce.
Currency moves were minimal. The USD/COP exchange rate eased 0.01% to 3,635.98, while BRL/COP fell 0.01% to 727.39. The US Dollar Index Futures gained 0.36%, trading at 98.84.
Key takeaways from the session:
- The COLCAP dropped 1.03%, marking a three-month low for the index.
- Ecopetrol outperformed among index components, while Promigas and Grupo de Inversiones Suramericana's listings were the largest decliners.
- Commodities and FX showed mixed moves, with cocoa higher, gold lower and minimal shifts in COP and BRL crosses.