©Reuters. Sao Paulo Stock Exchange starts month with slight rise after losing more than 11% in June
Sao Paulo, Jul 1 (.).- The Sao Paulo stock market rose 0.42% this Friday and its index, a benchmark for the parquet, stood at 98,953 points, which allowed it to close the week in positive territory after four consecutive weekly drops.
In the last five days the parquet advanced a timid 0.28%, but ended June with a sharp drop of 11.5%, the worst month since March 2020, when the effects of the coronavirus pandemic began to be felt.
The rise in the index this Friday was helped by the good performance of the meat sector, as BRF and Marfrig were among the biggest gainers of the day.
Common shares of BRF, the world’s largest chicken exporter, advanced 5.08%, while similar shares of Marfrig climbed 3.88%.
The green numbers, however, were led by the ordinary papers of the reinsurer IRB Brasil, which appreciated by 6.40%.
The preferred titles of the state oil company Petrobras (NYSE:) (+2.15%), which were the second most sought after by investors, behind the ordinary ones of the mining giant Vale, which fell by 1, 91%.
The losses, however, were led by the ordinary titles of the retail network Magazine Luiza, which fell by 5.98%.
During the day, 24,543 million reais (about 4,613 million dollars) were traded, as a result of 4,170,662 financial transactions.
In the foreign exchange market, the dollar appreciated by 1.68% against the real and was traded at 5,320 reais for both purchase and sale at the commercial exchange rate, which is the highest value in the last five months. .
The dollar strengthened after the approval of an amendment by the Senate that endorsed declaring a “state of emergency” in the country to create a series of social subsidies with which to mitigate the impact of fuel prices, when there are only three months to go for the elections.
In the week, the greenback advanced 1.29% against the Brazilian currency.