Stock market rises 0.6% supported by rising commodities and with fiscal on radar

Supported by shares of commodity exporters, the Stock Exchange closed the first session of the week up 0.58%, at 102,814 points, partially recovering from the 3.4% drop in the last session caused by the uncertainties brought by the new variant Covid-19 omicron.

The Ibovespa, the main stock index in the local market, was heading to mark an appreciation above 1% this Monday (29), in line with the recovery observed in the American market, but lost strength just before closing, in the wake of forthcoming statements Brasilia on the government’s fiscal policy.

High highlight in the session for stocks of raw materials producers more related to the context of global recovery, with investors recovering after widespread sales on Friday (26).

Usiminas shares appreciated by 6.1%, while Ultrapar’s rose 4%. Petrobras shares closed with an increase of around 3.5%. Oil recorded gains of 0.65%, at US$ 73.19 (R$ 410.68).

Statements by the President of the United States, Joe Biden, regarding the new variant of the coronavirus contributed to the movement of resumption in asset prices. According to him, the omicron is a cause for concern, but not for panic.

Retailers already ended the day on the Brazilian stock exchange in fall, with the market showing frustration with sales on Black Friday. Lojas Renner shares retreated 1.43%, and Soma, 1.48%, while Magazine Luiza shares fell 0.25%, and Marisa, 2.6%.

XP analysts point out in a report that it is difficult to have an accurate reading of the event’s impact on listed companies in the e-commerce sector. This is based on the assessment that the result was spread throughout the month, as all companies have been very active since the beginning of November.

“Our expectation is that companies show solid growth in online in the 4th quarter, but with pressured profitability.”

On the US stock exchanges, the day was one of gains for equities — the S&P 500 closed up 1.3%, while the Nasdaq rose 1.8% and the Dow Jones appreciated 0.7%.

There, Twitter shares stand out, which after trading sharply higher throughout the day, reversed the trend to close the trading session at a drop of 2.7%. The strong volatility of the shares responded to the announcement of the company’s co-founder, Jack Dorsey, who in a post on the social network said that he will leave his positions at the company.

The commercial dollar ended the session with an appreciation of 0.32% against the real, quoted at R$5.6130 for sale, the highest level since November 1 (R$5.67).

Global markets generally had a easing session earlier this week, as fears about a new coronavirus variant easing sponsoring a rally in asset prices eased. However, the dollar also gained ground in this context, as perspectives of interest rate increases by the Federal Reserve (US central bank) in the United States returned to the table.

In addition, uncertainties about the evolution of the government’s fiscal policy in the coming months weigh on the local market. The president of the Senate, Rodrigo Pacheco (PSD-MG), said on Monday that the income tax reform bill should not be considered by the House this year. According to the senator, the tendency is for the text to be voted on only in 2022.

Participating in an event promoted by the Federation of Commerce of Paraná, Pacheco also stated that the maneuver found for the PEC dos Precatórios is the “possible solution” to guarantee resources for the government’s new social program, Auxílio Brasil. His intention is to vote the text in plenary next Thursday (2).

“The Income Tax bill is being discussed with senator Angelo Coronel in the Economic Affairs Committee, holding its own debate, but it should not be considered this year. It is for next year,” he said.

(With Reuters)