Colombia's Colcap Falls As Oil Shares Decline; Peso Weakens

State-run oil firm Ecopetrol falls 0.18%

Bancolombia preferential shares down 0.35%

Peso weakens to COP1,826.4 to the dollar

Colombian stocks dropped wednesday as a decline in oil shares dragged down the country's benchmark index, while the peso retreated to its weakest level since January against the dollar.

The Colcap index, the benchmark for Colombian stocks, fell 0.31% in the session to close at 1727.34 points. 

The index has climbed 9.91% so far this year.

Extending a trend seen for most of this year, Ecopetrol SA (EC, ECOPETROL.BO), the state-run oil firm, was the most heavily traded share in the index. Ecopetrol dropped 0.18%, to COP5,400.00. 

The preferential shares of Bancolombia SA, the largest bank in the country, declined 0.35%, to COP28,100.

The peso, meanwhile, weakened against the dollar and closed at COP1,845.15 from COP1,826.4 a day earlier. It was the weakest level for the peso since Jan. 11.

The yield on Colombia's peso-denominated bond due July 2.024 closed at 7.160% after starting the session at 7.186%.