With the 3.69% drop registered yesterday by the MSCI Colcap indexthe Colombian Stock Exchange wiped out practically all the gains it had achieved exactly one month ago.
(Gilinski launches a new takeover bid: this time it is for Grupo Argos).
Wednesday’s fall had been 2.73% and with yesterday’s, the index registered a positive figure of just 0.13%.
On April 20, the index had reached 1,635.71 points, with an appreciation of 15.93%, the highest level achieved this year.
A total of 26 shares register devaluations since the beginning of the year and those with the greatest loss are Valores Simesa, Acerías Paz del Río, Banco de Bogotá, Mineros and Cementos Argos, among others.
For Daniela Triana, an expert in variable income from the firm Acciones & Valores, several factors have been presented that feed the bitter cocktail in the stock market.
The first is the noise from abroad, especially in the United States, given the possibility that the world power enters recession. “There the stock market has been falling since February and although in Colombia we were almost shielded by the price of oil and takeover bids, we had to fall at some point because we came from a strong appreciation and that’s how the fall has been,” he said.
Additionally, he added that despite the good business results the inflation affects and also electoral uncertainty is important right now.
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