Analyst confidence grows in the stock market


The fall in prices accumulated by the majority of shares in the Colombian Stock Exchange (bvc) are generating short and medium-term expectations to improve.

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This is indicated by the Financial Opinion Survey (EOF), as well as the Stock Market Confidence Index (Icma) prepared by Fedesarrollo and the bvc that showed that 81.5% of analysts expect an appreciation of the index within three monthscompared to 69.2% registered in May.

The remaining 18.5% expect the stock index to depreciatea figure that was below that recorded in May, where 30.8% of analysts expected the MSCI Colcap to contract in the next three months.

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92.6% of those surveyed expect an increase in the index in June 2024 compared to the current level (1,190.76).
For June and September, analysts expect the Banco de la República’s intervention rate to remain at 13.25%.

They also anticipate a reduction throughout 2023, reaching 11.75% in December 2023 and 9.50% in June 2024.

In June, the growth forecast for 2023 was in a range between 1.2% and 1.6%with 1.5% as the median response (1.1% in May).

(See: Stocks are cheap and there are no buyers in the market)

Likewise, analysts believe that annual inflation in June will be at 12.21% (in a range between 12.13% and 12.38%) and by the end of the year they estimate that inflation will close at 9.22%.


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Written by Editor TLN

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