S & P Decision Hit the Colombian Market
Yesterday, the Colombian stock tumbled under pressure from the external market reacted negatively against the news from the continent.
The main global indices began to record falls after Standard & Poor `s cut the debt ratings of Portugal by two notches to” A-”and Greece in three to” BB + “, the first step in the speculative grade.
The General Index of the Bolsa de Colombia (IGBC) fell 0.93 percent to 12469.08 points, levels that are placed exactly one week ago. Ecopetrol was the most traded to 42805.01 with a decline of 0.90 percent to 2.760 pesos.
“While oil company reports filed Monday were positive, the action did not escape the fall of the local market,” said Santiago Melo, equity analyst at Alliance Securities.
Despite the market downturn, it is important to note the volume traded in the day yesterday 191,592.69 million pesos in 3539 operations. Andres Otalora analyst Professional Exchange Company, said that if you continue to have similar sessions in about a week it would record a correction of 3 to 5 per cent. The title of SIE was the only wheel high liquidity which rose on Tuesday, with a rise of 0.89 percent to 15,880 pesos.
For its part, Deutsche Bank said it was prudent in the short term versus Latin American stock markets and start coverage on the stock exchanges in Colombia and Chile for a little upside potential and some downside risks.