Colombia Markets: COLCAP & the Peso — July 11, 2026
Key Facts
- The COLCAP-tracked benchmark climbed 1.33% to 44.28, closing just 0.1% below its 52-week high after a 27.46–44.34 range this year.
- The peso’s official close fell to 3,241.75 per dollar a decline of 40.25 pesos from the day’s open of 3,282.00, per Banco de la República.
- The separately-published TRM reference rate touched 3,305.38 its lowest print in roughly six years, dating back to January 2020.
- Brent crude added 0.69% to $76.56 a barrel staying on track for a weekly gain of nearly 6% as renewed US-Iran strikes disrupted Hormuz shipping.
- The S&P 500 added 0.42% to 7,575.25, a firmer Wall Street tape that kept the broader risk backdrop supportive for emerging markets.
Today’s Focus
Colombia’s equity benchmark rose 1.33% on Friday to sit within a whisker of its 52-week high, while the peso did the louder work, closing at 3,241.75 per dollar — its strongest official print in years.
The common thread was oil: Brent held above $76 a barrel as renewed US-Iran hostilities kept shipping through the Strait of Hormuz disrupted, a risk premium that flatters Ecopetrol’s earnings outlook even as it complicates the inflation picture at home.
Today’s scan carried index-level and currency data but no verified single-stock prints, so the read on Ecopetrol, Bancolombia, ISA, Grupo Sura and GEB individually stays qualitative rather than numeric.
The peso’s strength is also a Bancolombia story in its own right — the bank’s economists have pencilled in an average dollar rate near 3,878 for 2026, a forecast this week’s price action is already running well ahead of.
What matters today. Oil’s Hormuz-driven risk premium is doing double duty in Bogotá, lifting the equity index through Ecopetrol while a firm peso signals foreign investors remain comfortable holding Colombian risk.
01 The session in one read
Colombia’s stock market closed higher on Friday, with the COLCAP-tracked benchmark advancing 1.33% to 44.28 — a print that leaves it just 0.1% shy of its 52-week high.
The peso stole the bigger headline. Banco de la República’s official close showed USD/COP at 3,241.75, down 40.25 pesos from the day’s 3,282.00 open.
Behind both moves sat the same macro anchor: Brent crude holding above $76 a barrel as renewed US-Iran hostilities kept a risk premium baked into oil markets.
For an index and a currency both leveraged to crude — Ecopetrol through equities, oil-export receipts through the peso — that premium is doing double duty this week.
The COLCAP’s push toward its 52-week high and the peso’s slide to a fresh multi-year low both point the same direction — foreign capital staying constructive on Colombian assets while crude’s geopolitical premium flatters the energy-heavy index.
The gap between confidence levels reflects data coverage: the currency move is corroborated by the central bank’s own official close, while the equity-index reading rests on the proprietary scan alone, with no independent single-stock verification available for the session.
The variable to watch is whether Brent’s Hormuz premium proves durable or fades on any ceasefire progress, since that alone will decide whether Ecopetrol keeps pulling the COLCAP toward its 44.34 high.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| COLCAP | 44.28 | +1.33% | 0.1% off the 52-week high; 52w range 27.46–44.34 |
| USD/COP | 3,241.75 | −1.65% | Fresh multi-year low; 52w range 3,240–3,887, 16.7% below the high |
| Brent crude | $76.56/bbl | +0.69% | Weekly gain near 6% on Hormuz shipping risk |
| S&P 500 | 7,575.25 | +0.42% | 0.5% off its record; steady global backdrop |
The COLCAP’s proximity to its 52-week high is the headline number here — at 44.28 it sits almost exactly at the top of a 27.46–44.34 range that has defined the past year.
The peso’s read is starker still: 3,241.75 is essentially the floor of its own 52-week band, and Banco de la República’s separately-published TRM reference rate — the rate used to settle the next day’s trade transactions — touched 3,305.38, its lowest level in roughly six years.
With Brent adding another 0.69% and the S&P 500 firm at 7,575.25, the external backdrop gave Bogotá no reason to fight the tape. Rio Times · Live Market Intelligence
Live Market IntelligenceColombia — Live Market Board
Colombia — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
COLCAP
2,307.67
+0.65%
—
9.04
9.05
9.02
4,133
USD/COP
3,240
-3.09%
-19.44%
3,343
3,302
3,228
—
BRENT
76.00
-0.39%
+8.02%
76.30
77.56
75.31
38,194
WTI
71.51
-0.79%
+4.47%
72.08
73.16
70.77
199,285
ECOPETROL
15.59
+1.27%
+71.78%
15.39
15.70
15.16
2,766,039
BANCOLOMBIA
82.95
+2.50%
+87.54%
80.93
83.59
81.26
210,539
GRUPO AVAL
5.08
+1.20%
+73.04%
5.02
5.15
5.03
76,776
TECNOGLASS
43.90
+1.76%
-41.03%
43.14
44.38
43.47
165,460
CREDICORP
400.81
+2.27%
+80.20%
391.92
402.19
394.11
202,395
BUENAVENTURA
30.00
+1.52%
+77.73%
29.55
30.34
29.26
451,852
SOUTHERN COPPER
175.83
+0.80%
+79.36%
174.43
177.12
173.06
779,481
03 Why it moved — oil’s Hormuz premium meets a stronger peso
Crude is the story. Brent crude oil held above $76 a barrel on Friday and remained on track for a weekly gain of nearly 6% as renewed US-Iran strikes delayed a full recovery in tanker traffic through the Strait of Hormuz.
West Texas Intermediate told the same tale from the other side of the barrel — crude oil slipped to around $71.2 a barrel but remained on track for a weekly gain of about 3.5% as renewed US-Iran tensions disrupted shipping through the Strait and raised supply concerns.
For Bogotá that premium flatters Ecopetrol, the state oil champion whose fortunes disproportionately set the COLCAP’s direction, even as pricier crude complicates the inflation math the central bank is already wrestling with.
The peso’s slide to 3,241.75 fits a broader carry-trade narrative: Grupo Cibest, Bancolombia’s parent, projects the dollar will average 3,878 pesos in 2026 on sustained remittance flows and a softer greenback globally — a forecast that today’s spot print is already running well below.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| Ecopetrol | — | — | No scan-verified single-stock print for July 10; the index’s dominant energy weight tracks Brent’s Hormuz premium directly |
| Bancolombia | — | — | Rate-sensitive financial complex; unverified for the session |
| ISA | — | — | Utilities and infrastructure weight; unverified for the session |
| Grupo Sura | — | — | Banking and insurance holding company; unverified for the session |
| GEB | — | — | Gas transport utility; unverified for the session |
Today’s proprietary scan carried index-level and currency data but no verified turnover or percentage moves for individual constituents, so the table above is deliberately conservative rather than reconstructed from memory.
What can be said with confidence is structural: Ecopetrol remains the single name capable of swinging the whole COLCAP given its index weight, which is why Brent’s Hormuz-driven gain is the more reliable read on today’s direction than any name-by-name guess.
Foreign desks watching Bancolombia, ISA, Grupo Sura and GEB should treat today’s session as a macro-driven one — oil and the peso, not stock-specific news, appear to be doing the work.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| Ibovespa | Brazil | — |
| IPC | Mexico | — |
| IPSA | Chile | — |
| S&P/BVL | Peru | — |
| Merval | Argentina | — |
None of the five regional closes could be independently verified for July 10 within this lane’s research, so each is left as ‘—’ rather than guessed.
The live market board above carries each index’s closing level in full — this table is a curated, verified-only read, not a substitute for it.
What is verified is the shared macro backdrop: Brent’s Hormuz-driven gain and a broadly softer dollar are the same forces likely shaping every board in the region today, Colombia’s included.
06 The technical picture
The COLCAP’s 44.28 close leaves it pressed right up against the top of its 52-week range, with 44.34 — the 52-week high itself — now the immediate level bulls need to clear for a genuine breakout.
A clean push through that ceiling would mark fresh territory for the year; failure to clear it risks a pullback toward the middle of the 27.46–44.34 band.
On the currency side, 3,240 is now both the year’s low print and the level to watch — a decisive break below would signal fresh peso strength, while a bounce back toward 3,282 (today’s open) would suggest the move was a one-day spike rather than a trend.
With Brent’s Hormuz premium the swing factor for both the index and the currency, any de-escalation in the US-Iran standoff is the single biggest risk to today’s constructive picture holding into next week.
07 What to watch
- Oil and Hormuz risk: Whether Brent holds its weekly gain of near 6% or fades on any ceasefire progress will decide if Ecopetrol keeps pulling the COLCAP toward its 44.34 high.
- Peso floor at 3,240: A decisive break below today’s 3,241.75 close would mark fresh multi-year peso strength; a bounce back above 3,282 would suggest today was a one-day spike.
- COLCAP breakout attempt: 44.34 is the 52-week high and the immediate technical ceiling for the index after today’s 1.33% advance.
- Bancolombia’s own peso call: Grupo Cibest’s house forecast of an average 3,878 rate for 2026 is already running well behind today’s spot print, a gap worth watching for revisions.
Background: Colombia Hiked Rates to 12%. Inflation Broke 6% a Week Later..
Background: Colombia’s Exports Jumped 19%. It Shipped 18% Less Oil..
Frequently Asked Questions
Why did the COLCAP rise on July 10, 2026?
The index-tracked benchmark gained 1.33% to 44.28, closing just 0.1% below its 52-week high, with Brent crude’s Hormuz-driven risk premium supporting energy-heavy names like Ecopetrol.
Where did the Colombian peso close on July 10?
Banco de la República’s official close put USD/COP at 3,241.75, down 40.25 pesos from the day’s open of 3,282.00 — near the strongest levels in roughly six years.
What is the difference between the TRM and the day’s spot close?
The TRM is Colombia’s official reference rate, calculated from the prior day’s trading and applied the next day; it printed 3,305.38 for July 10, while the actual spot close that day was lower, at 3,241.75.
Why does oil matter so much for Colombia’s stock market?
Ecopetrol, the state oil producer, is the single largest weight in the COLCAP, so Brent’s price swings — currently elevated on Strait of Hormuz shipping disruptions — flow almost directly into the index’s direction.
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