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©Reuters. Sao Paulo stock market rebounds, driven by state-owned and pending Petrobras
Sao Paulo, Apr 13 (EFE) .- The Sao Paulo stock market advanced 0.55% this Wednesday and its index, a reference for the parquet, stood at 116,781 points, encouraged by state-owned companies and pending the renewal of the Council of Administration of the oil company Petrobras (NYSE:).
The state oil company today celebrates its Ordinary General Assembly, in which it will elect the new members of its administrative council and must also deliberate on the nomination of José Mauro Ferreira Coelho to preside over the company.
Given expectations, Petrobras’ preferred shares were the most traded in the trading session and ended the day with a rise of 2.13%, while its ordinary shares appreciated by 2.46%.
The ordinary titles of the mining giant Vale, which advanced a slight 0.03%, and the preferential ones of Itaú-Unibanco (0.27%), the largest private bank in Brazil, were also among the most sought after today.
The energy sector also contributed to the positive closing of the Brazilian market, with the ordinary papers of the Ultrapar distributor leading the highest gains of the day with an advance of 4.03%.
The state-owned Eletrobras, the largest power generator in Latin America, also stood out among the largest increases, whose preferred shares rose by 3.81% and ordinary shares by 2.72%.
On the other side of the coin, the ordinary papers of the tourism company CVC Brasil were the ones that lost the most value this Wednesday, yielding 2.81%.
It was followed in negative territory by the ordinary shares of the Energias BR electricity company, which fell 2.53%, and the ordinary shares of the Pao de Açúcar supermarket network, which in turn fell 2.32%.
The volume of business on the Sao Paulo stock exchange this Wednesday exceeded 63,026 million reais (about 13,444 million dollars), as a result of 3,967,223 financial operations.
In the foreign exchange market, the US dollar appreciated 0.26% against the Brazilian real and ended the day trading at 4.688 reais for purchase and sale at the commercial exchange rate.
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