Effect of elections on the market was not greater: experts

The results of the parliamentary elections and the party talks last Sunday had no greater impact on the Colombian stock market, on the exchange rate or on TES. This was indicated by experts and analysts consulted by EL HERALDO.

Although a decline of 5.68% was recorded in the Ecopetrol share, It is more explained by the international behavior of the price of crude oil.

Bee case of the Brent, which is a benchmark for Colombia, contracted by 6.61% and the price reached USD 105.14, following the progress of the negotiations between Russia and Ukraine. In turn, the dollar’s average price this Monday was $3,800.40.

Wilson Tovar, manager of Economic Research of Stocks and Securities, points out that there was no significant response to the results. “From the international market, the reading is that Gustavo Petro has not achieved the majorities he promised and therefore a second round is expected and no candidate will be chosen in the end. leftist president† This produced the prices we saw in the dollar,” he said.

Source: El heraldo

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