European inflation, Anatel will review the sale of Oi Móvel and what matters in the market

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European inflation, Anatel will review the sale of Oi Móvel and what matters in the market

ANDThis is Tuesday’s edition of the FolhaMercado newsletter (8). want to receive it from monday to Friday at 7 am In your email? Sign up below.


Record inflation in Europe

The annualized inflation rate in the euro zone reached 5.1% in January, a record in the historical series, with data since 1997.

What explains: Europe is experiencing an energy supply shock amid the recovery of economies and a process of energy transition to cleaner sources.

  • Dependence on natural gas from Russia has increased, and the country’s decision not to increase supply, together with the crisis with Ukraine, have pushed the commodity’s price up.
  • The rise in prices for a barrel of oil –which is explained by reasons similar to the rise in gas– also puts pressure on European inflation, as it has a cascading effect on production.

Subsidies: to alleviate the cost of fuel for consumers, some European countries have adopted emergency refund policies.

In Portugal, the government gives a discount limited to 50 liters per month, while France has chosen to offer a check to anyone earning less than 2,000 euros net (about R$ 12,200).

Currency squeeze: the european central bank has chosen a path of caution. Despite recognizing the risk of inflationary pressure, the authority has not yet made it clear when it intends to raise interest rates, currently at historic lows of negative 0.5%.

More on inflation and interest:


Anatel’s endorsement can be canceled

Anatel (National Telecommunications Agency) will reassess its authorization for the sale of Oi Móvel to rivals TIM, Claro and Vivo. The decision was taken after a request for annulment filed by Copel.

Understand: the company argues that director Emmanoel Campelo could not have presided on an interim basis at the two meetings at which the operation was unanimously approved.

  • She defended that, with the departure of ex-counselor Raphael Garcia de Souza from the position, the superintendent with more time in office should have taken over.
  • According to the agency, the sale of the mobile assets of tele carioca was analyzed in extraordinary meetings due to the deadline for closing the judicial reorganization process of Grupo Oi, on March 31.

Repercussion: after the news, Oi’s shares plummeted and closed 10%, at R$0.95. The reanalysis of the sale process can generate insecurity regarding the fulfillment of the deadlines of the judicial recovery.

Remember: the three operators won the auction for the assets of tele carioca in December 2020 with an offer of BRL 16.5 billion.

One more clash: after Anatel’s approval, the next step would be the analysis by CADE (Administrative Council for Economic Defense).

Over the weekend, the MPF representative recommended to the agency that the purchase be vetoed, on the grounds that TIM, Claro and Telefônica (Vivo) created an ‘unbeatable consortium’ without consulting CADE.


Dollar falls, but fiscal risks are a threat

The dollar returned to retreat this Monday (7), ending at a low of 1.35%, the BRL 5.2520at the lowest price since September 15.

What explains:

  • Fees: Brazil returned to double-digit rates and became even more attractive for those who borrow money at low costs abroad and buy fixed-income securities here.
  • Foreign flow: the gringos have already entered with more than $30 billion (R$ 159 billion) on the B3 spot market this year, which helped to strengthen the stock exchange and alleviate the devaluation of the real.

Ibovespa: the index retreated 0.22% this Monday, at 111,996 points. The rise in interest rates tends to reduce the attractiveness of the Exchange and increase the flow from variable income assets to fixed income.

Yes but… Concerns about government spending in the election year have re-figured in analysts’ reports to investors and could push the dollar higher.

More about investments:

In the US, Meta, owner of Facebook, seems to have not yet left its astral hell and retreated 5.14% this monday. The company has already lost $286 billion (R$ 1.5 trillion) in market value since the release of its balance sheet last week.

See the blog De Grão em Grão for the best route to have a peaceful retirement.


New website to check forgotten money

From next Monday (14), citizens and companies will be able to consult again if they have forgotten money in banks. The tool will work on a website specifically for this purpose.

Remember: consultation on the Central Bank’s page was suspended last month, a day after the authority announced that Brazilians had R$8 billion forgotten. The explosion of access ended up overloading the tool, which was removed from the air.

The amounts available for redemption involve amounts forgotten in bank accounts, paid by cooperatives or consortia, or fees and fees improperly charged by banks and financial institutions.

How will it be: now, access will be through the address valorareceber.bcb.gov.br. The query will no longer be made by Registrato, and the interested party will need to have a login on the gov.br platform with a silver or gold security level. On the new website there is a step-by-step guide to redeem the values.

The BC also warned of the occurrence of blows involving the tool. The authority reinforced that it does not send links and does not get in touch to deal with amounts receivable or to confirm personal data.

Other forgotten values: see here eight other situations in which Brazilians may be entitled to withdraw money left behind. Examples are lottery prizes never claimed, inactive FGTS accounts and salary bonuses never redeemed.


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