The dollar opened this Tuesday (21) lower against the real, with market participants digesting the minutes of the last Central Bank monetary policy meeting, in which the authority indicated the need to keep the basic interest rate at a high level. for an extended period.
At 9:03 am (Brasília time), the spot dollar retreated 0.44%, to R$ 5.1652 on sale.
On B3, at 9:03 am (GMT), the first-maturity dollar futures contract was down 0.50% to R$5.1840.
In this session, the Central Bank will auction up to 15 thousand traditional foreign exchange swap contracts for the purpose of rolling over the maturity date of August 1, 2022.
This Monday (20), the Brazilian Stock Exchange closed with a slight increase of 0.03%, ending the day at 99,852 points. The 2.47% drop by Vale weighed on the performance of the Ibovespa. The mining company was hurt by the devaluation of iron ore futures contracts amid fears of falling global demand.
Petrobras shares reacted positively to the change in the company’s command and recovered part of last week’s losses. Common shares (PETR3) rose 0.87% to R$30.19, while preferred shares (PETR4) rose 1.14% to R$27.62. The negotiations, however, took place in a turbulent session.
On two occasions, the oil company’s shares were withdrawn from the trading floor. The suspensions occurred due to the announcements of the resignation of the company’s president, José Mauro Coelho, and the appointment of Fernando Borges to occupy the presidency on an interim basis.
The change in command of the state-owned company comes after the government of Jair Bolsonaro (PL) intensified pressure on the company after the announcement of the fuel increase last week.
On Friday, political criticism of the company caused the company’s shares to fall sharply, while the domestic market was still trying to adjust to the historic high of interest rates in the United States.
The company’s common and preferred shares closed the trading session with losses of 7.25% and 6.09%, respectively.
PETR3 fell to its lowest closing value this year, BRL 29.92, below the floor of BRL 30.57 recorded on January 6th.
Investors weigh the risks that the proximity of the elections potentiates measures that could compromise the functioning of the market, increase inflationary pressure and generate more public spending.
The crisis involving one of the main companies on the Brazilian stock exchange occurs at a time of increasing concerns about the direction of the world economy.
Managers discuss the possibility of a global recession after, last Wednesday (15), the Fed (Federal Reserve, the American central bank) confirmed a 0.75 percentage point increase in its interest rate. It is the biggest increase applied by the monetary authority of the United States since 1994.
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