The Colombian Colcap index spent the day oscillating in positive and negative territory and then finished in unspectacular fashion at near exactly even on the day. Volume was lethargic on the exchange as only a little more than USD $50 million traded hands.
The Colombian statistics department, DANE, announced that in March the producer price index was up 0.93% bringing us to 3.24% on the year. These are the highest PPI levels seen since 2008 when in March of that year, the index was up 3.59%. The major oil companies in Colombia had the most productive day as each had gains led by Pacific Rubiales at 0.99% and followed by Canacol and Ecopetrol at 0.87% and 0.39%, respectively.
The S&P500 index ended the day softly as it too was up a mere 0.03%. The Brazilian BOVESPA index had one of the brighter days around the globe as it increased 0.63% following an upgrade by Fitch Ratings to BBB from BBB-, one level above investment grade.
In unique fashion, the peso also finished the day unchanged at 1,849.00 to the dollar.
Fortunately we can always count on the commodities markets for more action. Oil closed the day above $108/barrel marking its continued accent, especially since the turmoil in the middle east broke out a few months ago. Coffee was up 2.04% while corn and wheat saw gains of 3.29% and 4.02%, respectively.
