Colombia's benchmark COLCAP index advanced 0.39% on Tuesday, closing at a one-month high as gains across industrials, services and agriculture offset declines in financials and banking stocks.
The index's advance was primarily supported by sharp rallies in Grupo Argos SA and Cementos Argos Pf, which rose 7.01% and 5.87% respectively. Grupo Argos closed at 21,360.00 COP, marking a 52-week high, while Cementos Argos Pf ended the session at 12,620.00 COP. Grupo de Inversiones Suramericana SA Preferred also contributed to gains, adding 3.08% to close at 48,200.00 COP.
Declines were concentrated in the financial sector, with Corporacion Financiera Colombiana SA falling 3.57% to 20,000.00 COP. Banco De Bogota SA and Grupo Aval Acciones y Valores SA Pref also retreated 1.89% and 1.43% respectively.
Commodities showed mixed performance, with US Coffee C futures for December delivery gaining 4.31% to $331.60 per pound. In contrast, US Cocoa futures for December delivery dropped 2.39% to $5,924.00 per metric ton, while December gold futures fell 1.88% to $4,389.50 per troy ounce.
The Colombian peso strengthened marginally against the U.S. dollar, with the USD/COP pair declining 0.03% to 3,105.77. The Brazilian real also weakened 0.06% against the peso, trading at 594.43 BRL/COP. The U.S. Dollar Index futures were little changed, up 0.01% at 99.55.
