Colombian stocks set to top global return leagues in August

Colombia´s COLCAP stockmarket index was on track for the biggest gain´s from among all its peers worldwide in August, after a 9.6% advance in US dollar terms, Bloomberg reported.

That was five times the average return for its emerging market peers over the same period.

Companies reporting better than expected second quarter earnings, a peace agreement with Marxist rebels and a big rise in oil prices had helped to fuel gains in the local currency, the peso, Camilo Forero, the head of equity research at Credicorp Ltd.’s Colombia brokerage, said.