Daily Colombian Equities Bulletin and Fundamentals 6-19-14
June 20, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,720.2 points (-0.1%). Total turnover reached USD 45.13 mn. The best performers were PfAviancaHoldings (+2.2%), Enka (+1.9%) and Canacol (+1.4%). On the other hand, the worst performers were Cemargos (-1.4%), Pacific Rubiales (-1.1%) and Ecopetrol (-1.0%).
Colombia's economy grew 6.4% in the first quarter compared with the same period last year, the strongest first-quarter result since 2007 and well above analysts' predictions of 5.1% expansion and Corredores Asociados' expectation of 5.2%. The surprising reading is likely to reinforce expectations the central bank will raise the benchmark rate on Friday's meeting in 25 basis points to 4%, following two increases at the bank board's last two meetings. Source: Reuters
Emgesa | EEB:
Emgesa's Board of Directors approved a plan to raise shelf by COP 315,000 million to COP 3.07 trillion. Source: SuperFinanciera
On the first day of the Ninth Summit of the Pacific Alliance, it was announced the incorporation of Mexico to the Integrated Latin American Market (MILA), which will allow the Mexican Stock Exchange to start operations with their counterparts from Chile, Colombia and Peru. Source: Dataifx
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