International markets were down today in schizophrenic fashion on the continued violence in Libya and fears of uprising in Saudi Arabia. The S&P500 was dropped 0.83%, while Japan’s Nikkei index was punished for a 1.76% loss. Colombia’s Colcap did relatively well as it only lost 0.52% which was generally supported by better than estimated inflation figures in February. Volume on the BVC was down more than 31% to roughly USD $85 million.
DANE reported IPC (Consumer Price Index) figures this weekend that revealed February inflation was up only 0.60%, less than the market was expecting and less than has been reported for the same month in prior years. Inflation in education spending led the way with a 4.17% increase as this marks the beginning of a new school year.
There was little news out of the U.S. or rest of the economic world, however Moody’s downgraded Greece’s debt three levels. Insurance to cover the debt rose to levels just under that of Venezuela and just above Argentina.
The peso was little changed and finished the day at 1896.00 to the dollar.
WTI oil closed the day up slightly to $105/barrel. Other commodities were generally down with wheat leading the way down 3.94%.
