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Thursday, April 21, 2011

Colombia's IGBC Climbs 2.06%; Peso Strengthens

Colombian stocks surged Wednesday, fueled by gains in oil and financial shares, while the peso strengthened against the dollar.

The IGBC index, the benchmark for Colombian stocks, rose 2.06% to 14342.06 units.

The gains were led by oil firm Pacific Rubiales Energy Corp. (PRE.T, PREC-BOG), which rose 3.3% to close at COP54,180.00.

The shares of Bancolombia SA, Colombia's largest bank, also rose 1.8% to COP28,300.

The peso, meanwhile, strengthened against the dollar and closed at COP1,782.10 from COP1,788.00 a day earlier.

The yield on the benchmark, peso-denominated 2020 bond stood at 8.192% from 8.195% a day earlier.

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