Colombian stocks gained 2.4% Wednesday, reversing three straight days of declines, boosted by key oil firms in the country’s benchmark index.
The IGBC index rose 2.4% to 15062.09, fueled by shares of Pacific Rubiales Energy, an oil firm also listed in Toronto. Pacific Rubiales rose 6.5% to COP59,200 after announcing early Wednesday that it would pay a cash dividend of $0.094 per common share.
Ecopetrol SA, Colombia’s state-run oil firm, gained 1.98% and closed at COP4,115. Canacol Energy, a Canadian-based oil firm that trades in Bogota and Toronto, rose 6.45% to COP3,135.
Banco de Occidedente, one of the country’s largest banks, declined 0.6% to COP35,700. The bank is readying a $185 million domestic bond sale.
The Colombian peso, meanwhile, was mostly unchanged and traded at COP1,891.90 from COP1,891.84 a day earlier. The yield on the benchmark 2020, peso-denominated bond stood at 7.540% after opening at 7.453%.
