Colombian equities closed higher on Friday, with the MSCI COLCAP index rising 0.58% as investor sentiment improved across the region.
The gains were broad-based but anchored by strong performance from state-owned oil giant Ecopetrol, which led the benchmark higher amid a firmer backdrop for crude oil prices.
The session marked a continuation of positive momentum for local shares, following a standout close earlier in the week when the index posted its strongest gain in weeks.
The local currency, however, faced renewed pressure, with the peso weakening 0.09% against the US dollar.
This slight depreciation contrasts sharply with the previous day’s performance, when the peso had strengthened by approximately 2% following a disappointing US jobs report that triggered broad-based selling of the greenback. The mixed signals in the FX market suggest that while equity investors are finding support in commodity-linked stocks, currency traders remain cautious about the peso’s near-term trajectory.
The divergence between equity strength and currency softness highlights the complex dynamics facing Latin American markets.
While energy stocks like Ecopetrol benefit from stable oil prices, the broader macroeconomic environment remains sensitive to US data releases and global risk appetite.