The Ibovespa, the main index of the Brazilian Stock Exchange (B3), ended the trading session on Thursday, 16, recording the first high after six sessions.
With an advance of 0.74%, at 103 thousand points, the indicator recovered part of the loss and left the lowest value recorded in the year.
The news that the Credit Suisse bank would be rescued by a credit line of US$ 50 billion (about R$ 270 billion) made available by the Swiss National Bank (equivalent to the country’s Central Bank) attenuated fears that the crisis in the sector would contaminate the entire financial system.
Another mobilization made up of American banks, JP Morgan, Citi, Bank of America, and Wells Fargo, to save the First Republic Bank from the liquidity problems presented showed the market the willingness of agents not to let the crisis spread.
The good news from the United States made its main indexes advance almost 2%. Performance is similar to that of the European stock markets.
The instability in the banking sector increased the expectation of the North American and European central banks for a pause in the cycle of interest rate hikes to relieve the pressure on financial institutions and avoid a greater deceleration of the economy.
The movement may influence the Brazilian monetary authority in the medium or short term.
On the other hand, the dollar retreated 1%, quoted at R$ 5.24. The market improvement slows the demand for strong currencies like the American.
The main indexes ended the session this Thursday, 16, this way
Ibovespa: 103,434.66 (+0.74%)
S&P 500: 3,960.32 (+1.76%)
Nasdaq: 11,717.28 (+2.48%)
Dow Jones: 32,247.61 (+1.17%)
Dollar: R$ 5.23 (-1.03%)
Euro: R$ 5.53 (-0.73%)