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Saturday, May 5, 2012

Colombia Stocks Decline On Oil Shares; Peso Weakens Slightly

Colombian stocks tumbled Friday as shares of national oil company Ecopetrol fell sharply from a record high reached the previous session.

The Colcap, which is the Colombian Stock Exchange's benchmark index, declined 0.71% to end at 1,799.25 points.

Shares of Ecopetrol, one of the heaviest-traded shares on the Bogotá bourse, fell 4.3% to COP5,600 as crude oil prices on global markets declined 4%. 

Shares of Pacific Rubiales (PRE.T, PREC.BO), Colombia's top private oil producer, fell 1.5% to COP50,440.

Meanwhile, the Colombian peso ended at COP1,757.55 for a dollar, slightly weaker from COP1,756.55 a day earlier, according to Set-FX.

The yield on Colombia's peso-denominated bond due July 2.024 closed at 7.055% after beginning the session at 7.038%.

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