Colombian Stocks Rise On Pacific Rubiales; Peso Weakens

Oil firm Pacific Rubiales climbed 4.77%

Fabricato shares rise 3.57%

Peso weakens to COP1,910.5 to the dollar

Colombian stocks rose thursday, ending a four day streak of losses, while the peso continued to weaken against the dollar.

The Colcap index, the benchmark for Colombia's largest publicly traded firms, rose 0.91%, to 1609.71 points. The index has dropped 11.73% so far this year.

Among the top gainers Thursday was Fabricato (FABRICATO.BO), Colombia's largest producer of textiles and a major exporter to the U.S. Fabricato gained 3.57%, to COP72.50. 

Its shares are higher this year on a U.S.-Colombia trade agreement, which was approved Oct. 12 by lawmakers in Washington.

Pacific Rubiales Energy (PRE.T), a Toronto-based oil firm that ranks as the top independent crude producer in Colombia, rose 4.77%, to COP43,480.

Canacol Energy, an oil firm based also based in Canada, climbed 5.74%, to COP1,290.

The Colombian peso, meanwhile, weakened against the greenback and closed at COP1,910.5 to the dollar from COP1,906.5 a day earlier, according to central bank data. 

This is the fifth consecutive session that sees the peso retreat against the dollar.

The yield on Colombia's peso denominated bond due July 2.024 closed at 7.455% after opening at 7.445%.