Stock market sustains high with boost from Vale and oil companies

The Brazilian Stock Exchange had its second day of recovery this Friday (7th), after the sharp drop last Wednesday (5th) due to the expectation of accelerating monetary tightening in the United States, revealed by the minutes of the last meeting. of the Fed (Federal Reserve, the American central bank).

The Ibovespa, the country’s stock market benchmark, rose 1.14% to 102,719 points. The expectation of appreciation of oil and iron ore, raw materials produced by some of the main companies in the country’s stock market, was the main responsible for the positive result. In the first week of 2022, however, the stock market closed negative at 2.01%.

The dollar fell 0.22%, to R$ 5.6970. Frustrating data on job creation in the American job market drove the dollar’s fall, in addition to collaborating with the stock market’s high this Friday.

The US Department of Labor reported on Friday that the balance of urban job creation in the country was positive at 199,000 jobs. The result was well below the expectation of 400,000 jobs, according to a Reuters poll.

A scenario of full employment is considered by analysts as the main factor for the American monetary authority to end its stimulus program to the economy, the main reason for the American stock indices to have recorded record gains in 2021.

This aid package, created to keep the economy warm during the pandemic, is made up of a billion-dollar bond purchase program and keeping interest rates close to zero.

The minutes of the last Fed meeting, held in December, revealed that US monetary policymakers believe that the withdrawal of these stimuli, which had already begun with the thinning of asset purchases, needs to be accelerated to curb the rise in inflation in the country. .

“Expectations are focused on a possible reaction by the Fed to these data. A strong US job market could further accelerate the withdrawal of stimulus,” analysts at Ativa Investimentos said in a note.

While employment data indicate that monetary tightening will not be as quick, the US stock market ended lower. The Dow Jones, S&P 500 and Nasdaq indexes all dropped 0.01%, 0.41% and 0.96%, respectively.

In this Friday’s session on the Brazilian Stock Exchange, Petrobras rose 0.46%, following the rise in oil on the international market. “In addition, there was the reaffirmation of the sale of 100% of the state-owned company’s stake in Braskem”, highlighted Alexsandro Nishimura, economist and partner at BRA.

Private oil companies 3R Petroleum and PetroRio, which rose 6.88% and 4.54%, were among the main increases of the day.

The appreciation of oil has been gaining momentum with the crises in Kazakhstan and Libya, which threaten the supply of production in these countries, according to Nishimura.

The barrel of Brent oil, a world reference, had four appreciations this week, when it accumulated a high of 5%. On the day, however, the commodity had a slight decline of 0.28%, closing at US$ 81.76 (R$ 463.96).

Mining stocks also reflected the advance in the price of iron ore traded in Qingdao, China.

Vale closed up 5.82%, making the main contribution to the rise in the Ibovespa. Usiminas rose 4.78%, also driven by expectations of increased steel consumption in China.

Higher future interest rate curves contributed to increases in the banking sector. Banco Inter rose 15.46%, the highest in the trading session.

Still in the banking sector, Bradesco rose 1.45%, and Itaú, 2.21%. Both were among the stocks that, due to the volume of trading, had greater participation in the Ibovespa gains in this session.