≈2,582.6MSCI COLCAP · Mon., Oct. 5 close · +2.69% (calculated level)

DailyDrop.

3,210.92USD/COP · Mon., Oct. 5 close · −1.64% from Oct. 2
MSCI COLCAP2,582.60▲2.69%10/5USD/COP3,210.92▼1.64%10/5S&P 5007,773.95▲0.66%10/5WTI$89.43▼1.84%10/5Gold$4,156.80▼0.13%10/5
Economy · Business groups✓ 5 outlets · resignation of Oct. 1, accepted Oct. 5

ANDI accepts Bruce Mac Master’s resignation after more than twelve years and opens the process to choose his replacement

The departure of the head of the country’s main business association comes after weeks of tension with the government of Abelardo de la Espriella. The board did not explain the reasons.

The board of the National Association of Entrepreneurs of Colombia (ANDI) accepted Bruce Mac Master’s resignation on Monday, October 5, and announced a committee to choose his successor, according to Vanguardia, El Universal and Noticias RCN. Mac Master had submitted the letter on October 1, after more than twelve years at the head of the association, Forbes Colombia reported. The message released after the meeting did not detail the causes, and the association said it has channels of dialogue with the Government open.

Forbes and Publimetro reported weeks of tension with the Casa de Nariño: Mac Master had denounced a systematic campaign against the association after the magazine Semana published that the Government had instructed its ministers not to meet with him. Publimetro headlined that he left “under pressure,” but makes clear there is no evidence of a direct order from the president. One source says the decision had been planned for October 14. DailyDrop did not see the names of the committee or an election date.

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By the numbers
Oct. 1date of the resignation letter
Oct. 5ANDI’s board accepted it
12+ yearsat the head of the association, according to Forbes
Markets · Colombia✓ 2 outlets · Rankia and Rio Times; exact close unconfirmed

MSCI COLCAP rose 2.69% on Monday, its biggest daily gain since June 19, and came close to its record high

The Colombian stock market had its best day since June 19 on Monday, October 5: the MSCI COLCAP rose 2.69%, according to Rankia, and Rio Times describes it as part of a regional rally. It had closed Friday at 2,515.02 points (−0.59%). On Tuesday it added 0.25% and closed at 2,589.04, which puts Monday’s close at around 2,582.6, a DailyDrop calculation and not a published figure.

Rankia recalls that the record high is 2,626.71 points, from September 10. The sources consulted do not detail which stocks led the advance. With the dollar falling the same day, the move coincides with a greater appetite for Colombian assets, but DailyDrop found no official explanation.

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Word of the day
RallyMarkets

A strong, sustained rise in the prices of a market, sometimes in several countries at once.


Security · Cesar✓ 4 outlets · events of the early hours of Monday, October 5

Drones launch explosives at the Aguachica police station for the second time in less than two weeks

Around 1:10 a.m. on Monday, October 5, a drone flew over the police station in Aguachica, in southern Cesar, and four loud detonations were heard, according to Vanguardia, El País and Minuto60. No police officers or civilians were killed; a detainee was wounded in the leg and the damage was material. According to the reports, three men who were being held in the cells escaped and are being sought.

It is the second attack on the same station in less than two weeks. Blu Radio reported that the authorities are preliminarily investigating whether the ELN is behind it. The Cesar Governor’s Office pointed to retaliation for the results of the national government’s security plan as the main hypothesis. The authorities have not confirmed who is responsible. The Mayor’s Office called a new security council.

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Sports · National team✓ 4 outlets · previews from El País, Publimetro, El Espectador and El Colombiano

Colombia closes its tour against Peru this Tuesday in Miami, in need of a win after drawing with Mexico and losing to Paraguay

The Colombian national team plays Peru this Tuesday, October 6, at Nu Stadium in Miami, at 6:45 p.m. Colombian time, according to El País and Publimetro. It is the last friendly of the FIFA window. Before that, Néstor Lorenzo’s team drew 1-1 with Mexico and lost 1-0 to Paraguay.

The broadcast will be on Ditu, Caracol’s digital platform, and through Gol Caracol’s online content; the sources consulted mention no free-to-air television channel. DailyDrop found no official list of starters. One preview speculates that Lorenzo will turn to Jhon Arias, Davinson Sánchez, Daniel Muñoz, Richard Ríos and Jhon Lucumí, but this is not confirmed.

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Economy · Prices✓ 2 outlets · expectations from La República and Vanguardia

Analysts expect September inflation to rise to 6.33%, and DANE will publish it on Wednesday

A Citi survey cited by La República projects that annual inflation in September rose to 6.33%, from 6.24% in August. Education and food would drive the increase, and core inflation, which excludes food and regulated prices, rose to 6.1%. Vanguardia reported that analysts expected DANE’s figure on Wednesday, October 7, and that the dollar opened lower awaiting it.

For households, 6% inflation means that what cost 100,000 pesos a year ago costs about 106,000 pesos today. For the Banco de la República, a pickup complicates a possible rate cut. DailyDrop found no recent statements from the board and no official DANE projection, which publishes the figure only at the end of the month.

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In brief
  • ANDI accepts Bruce Mac Master’s resignation and opens the replacement processVanguardia, RCN
  • MSCI COLCAP +2.69% on Monday, its biggest gain since June 19Rankia, Rio Times
  • Dollar at 3,210.92 pesos on Monday, 62.57 below the TRMRCN, Portafolio
  • Aguachica: new drone attack on the police stationVanguardia, El País
  • Colombia national team plays Peru at 6:45 p.m. in MiamiEl País, Publimetro
  • Interior Ministry announces reform of prior consultationEl Universal
  • September inflation: Citi projects 6.33%; DANE publishes on WednesdayLa República
  • Wall Street: S&P 500 at 7,773.95 (+0.66%); WTI at $89.43; gold $4,156.8market data
Seven minutes every morning, one front page

Unverified — what we could not confirm

“De la Espriella ordered Mac Master out of ANDI.” Publimetro headlines that he left “under pressure,” but makes clear there is no evidence of a direct order from the president, and ANDI gave no reasons.
“The ELN carried out the attack on the Aguachica station.” The authorities have not confirmed who is responsible; they are preliminarily investigating the ELN (Blu Radio) and the Governor’s Office speaks of retaliation for the security plan.
Glossary · dotted words — economics, politics, security and sports terms explained in the context of the story. The list grows every day.
INSIDEANDI accepts Bruce Mac Master’s resignation after more than twelve years and opens the process to choose his replacementEconomy · Business groupsMSCI COLCAP rose 2.69% on Monday, its biggest daily gain since June 19, and came close to its record highMarkets · ColombiaDrones launch explosives at the Aguachica police station for the second time in less than two weeksSecurity · CesarColombia closes its tour against Peru this Tuesday in Miami, in need of a win after drawing with Mexico and losing to ParaguaySports · National teamAnalysts expect September inflation to rise to 6.33%, and DANE will publish it on WednesdayEconomy · Prices