The Brazilian Stock Exchange closed this Friday (3) up 0.58%, at 105,069 points, still rocked by the approval of the PEC (Proposed Amendment to the Constitution) of the Precatório by the Senate the day before.
With the result of this Friday and the high of 3.66% reached the day before, the Ibovespa, the Stock Exchange’s reference index, obtained a gain this week of 2.78% and managed to interrupt a sequence of two weekly lows. The result accumulated in 2021, however, is still negative at 11.72%.
The dollar rose 0.31% to BRL 5.6770, the highest since the end of April, boosted by a global movement to seek safety that dominated the markets this session and undermined several risky asset classes, such as equities and emerging currencies.
Fears about potential effects of the omicron variant of the coronavirus on the global economy, lower-than-expected data from the US labor market and a persistently harsh tone from Fed members (Federal Reserve, the US central bank) about inflation in the country have compounded a a scenario that forced a new liquidation of risky assets in the world, at the end of one of the most volatile weeks in recent months.
The Dow Jones, S&P 500 and Nasdaq indices closed down 0.17%, 0.84% and 1.92%. The day was also one of widespread losses on major European stock exchanges.
Brent oil, a world benchmark, rose 0.63% to US$ 70.11 (R$ 395.60), contributing to the 1.41% rise in Petrobras preferred shares, whose trading volume was the largest of the day .
Also among the most traded shares, Magazine Luiza’s shares rose 4.29%. Among the negative highlights, Vale retreated 2.20% on a day marked by falls in iron ore futures and spot markets.
Discount coupon firm Méliuz soared more than 30% to end the day with the highest rise in the session after releasing data from Black Friday, rebounding from a drop of more than 20% in the past three sessions.
The main devaluations were with Marfrig, which gave 5.74%, and JBS, with a loss of 4.84%, after Bradesco BBI downgraded the recommendation for the shares of both.
The futures interest market dropped this Friday, with the DI (Interbank Deposits) rate for January 2023 dropping 0.27 percentage points, at 11.31% per year.
The announcement of the 0.6% cut in industrial production in October contributed to the fall. “The result of industrial production confirms the scenario we have of stagnation in economic activity in the fourth quarter, which has already been pointed out by several coincident indicators”, wrote economists at Banco Fibra.
With the reading that the economic activity is weaker, the market assesses that the chance of more intense increases in the Selic (basic interest rate) is lower. The last decision of the Copom (Committee of Monetary Policy of the Central Bank) for the year will take place next week.
“This drop in the yield curve is due to the weak economic performance,” said Rafael Ribeiro, from Clear Corretora.
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