Colombia’s benchmark stock index dropped 1.17%, tracking the decline in stocks in New York that was triggered by concerns over the flagging U.S. economic recovery.
Most stocks in the Colombian IGBC index fell, pushing the index down to 13,224 points. State-run oil firm Ecopetrol SA, the most actively traded stock, declined 1.17% to COP3,250.
The oil company announced after the market closed Wednesday that it will list its American Depositary Receipts already being traded in New York on the Toronto Stock Exchange. The parallel listing doesn’t mean that the company is issuing new shares or raising capital, Ecopetrol said in a statement.
Shares of Pacific Rubiales Energy, an oil firm listed also in Canada, declined 1.57% to COP43,780. The company reported late Tuesday that it posted a second-quarter profit of $47.9 million, or 16 cents a share, compared with a year-earlier loss of $118.5 million.
The Colombian peso, meanwhile, strengthened to COP1,804.55 from COP1,808.65 Tuesday.
The yield on Colombia’s benchmark 2020 bond stood at 7.287% from 7.230% Tuesday. (Darcy Crowe / Dow Jones)
