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mel Average price of the dollar on the Colombian Stock Exchange This Monday was 91 pesos below the Market Representative Rate (TRM) in force for the day. The dollar was traded on average at 3,647 pesos against the TRM of 3,738 pesos.
Even in the morning 115 pesos were negotiated below the TRM, when there were transactions of 3,622.5 pesos per dollar.
The currency seemed to respond in this way to the strong rises in oil on the day in international markets, which, in turn, were driven by the announcement of the Pfizer and Biontech pharmaceutical companies that their covid vaccine had been 90 percent effective in tests. (You may be interested in: ‘The world’s stock markets applaud Biden’s triumph’)
Last week, the foreign currency lost a total of 114 pesos in the four trading days.
In Colombia, Ecopetrol’s share responded to oil prices with a 7.2 percent gain after 2 in the afternoon, while the stock market in general gained 3.1 percent, according to the Colcap index.
Following the announcement of the effective results of the COVID-19 vaccine, which had Pfizer’s stock gaining about 9 percent and Biontech’s 14 percent, oil prices soared.
Pfizer and Biontech reported that their vaccine against the novel coronavirus had been “90 percent effective,” according to the first interim analysis of their phase 3 trial. The benchmarks Brent and WTI They rebounded, with a barrel of Brent up 7.50 percent from Friday’s close at $ 42.41. In New York, a barrel of WTI for December delivery was up 8.48 percent at $ 40.29.
Euphoria in bags
The euphoria and excitement have marked the operations in the world stock markets this Monday and the European markets closed without exception with important increases, after the announcement of a future vaccine.
After having already opened positive for the victory of Democrat Joe Biden in the US elections, the bags were literally propelled after the announcement of Pfizer and Biontech.
Thus, Madrid closed up 8.57 percent; Paris, 7.57 percent; Frankfurt, 4.94 percent; London, 4.67 percent, and Milan, 5.43 percent. Paris, London and Milan posted their best results in a session since March, and Frankfurt since May.
On the other side of the Atlantic, Wall Street was heading towards new records with significant increases in stocks that suffered from the pandemic and falls in some that benefited from the crisis.
At 2:50 p.m. GMT, the Dow Jones Industrial Average was up 4.37 percent to 29,561.67 points – a new record – after surpassing 5 percent at the open, and the Nasdaq technology gained 0.89 percent to 12,001, 14 points, slightly below the 1.25 percent gain at the open. The S&P 500 was up 3.72 percent to 3,640 points, up from its closing record in early September.
Pfizer shares soared 17 percent before the open and at 5:20 p.m. GMT they were up 9.41%.
Read on in Business and Economics:
– What the world of work will be like after the pandemic
– ‘The sector has been moved in reverse by oligopoly’: Wom
– How much the public has felt the reductions in the Issuer’s rates
Economy and Business, with information from agencies
