Despite recording a high close to 1%, the Ibovespa closed at less than 100,000 points for the third straight trading session.
The indicator is the main one for the Brazilian Stock Exchange. The dollar closed the day at R$ 5.20 (a drop of almost 1%).
The return of Ibovespa to the level below 100 thousand points occurred last Thursday, 23.
The indicator had not closed at this level since July 2022.
The index’s downfall occurred amid fiscal uncertainties in the wake of the Lula administration and the PT party’s attacks on the monetary policy adopted by Roberto Campos Neto, president of the Central Bank.
Campos Neto has international recognition due to the measures taken during the pandemic.
In 2022, Brazil closed with lower inflation than countries like the United States.
The oil companies Petrobras (1.5%), Prio (4.5%), and 3R Petroleum (1.9%), as well as the performance of the banks Itaú and Bradesco, which appreciated by 1.7% and 1.8%, respectively, helped to improve the Ibovespa yesterday.
In addition, Raízen and Braskem’s shares recorded gains of almost 4%.
In Brazil, all investors’ attentions are turned to the project of the new fiscal framework. The market is waiting for the text to assess how much it is applicable and how the government intends to face the increase in expenses.
The presentation had been postponed due to Lula’s trip to China. However, the visit to China was rescheduled, making room for the possibility of presenting the proposal.
At the same time, in the United States, the Dow Jones (0.6%) and the S&P 500 (0.2%) closed higher. The Nasdaq, meanwhile, ended with a drop of 0.5%.
The banking sector brought good news to investors in the US stock market.
First Citizens closed the Silicon Valley Bank (SVB) purchase, which broke down about two weeks ago.
The deal was closed from Sunday to Monday. According to Money Times, the transaction involved a sale of US$119 billion in deposits and US$72 billion in loans from SVB at a discount of US$16.5 billion.