LatinNews Daily - 22 June 2022

In brief: Markets tumble following Petro’s victory in Colombia

* Colombian markets have tumbled following the victory of left-wing candidate Gustavo Petro (Pacto Histórico) in the 19 June presidential run-off. The Colombian stock exchange (BVC) opened with a fall of 5.42% yesterday, its first working day since the vote. The stock sell-off was led by state oil company Ecopetrol, which fell by 11.20% when markets opened, following the triumph of a candidate who has pledged to end fossil fuel extraction and transition to renewable energy sources. Also registering steep falls were plastics manufacturer Enka (-9.09%), financial services company Corficolombiana (-8.84%), and electricity provider Interconexión Eléctrica (-7.88%).

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