© Reuters. The Sao Paulo Stock Exchange accumulated a drop of 1.88% in the week
Sao Paulo, Apr 20 (.).- The Sao Paulo Stock Exchange, the largest stock market in Latin America, accumulated a drop of 1.88% this week, before the holiday on Friday in Brazil, while the dollar appreciated by 2, 91% in the same period, due to the doubts that still persist about the Government’s new fiscal adjustment plan.
After the strong optimism of the previous week, when the São Paulo stock market accumulated a jump of 5.41% and the dollar fell 2.82% against the real, investors remain awaiting the true scope of the program with which the Government of the progressive Luiz Inácio Lula da Silva promises to clean up the public accounts.
The doubts are due to the fact that the Executive branch postponed for two days, from Monday to Wednesday, the sending of its bill to Congress, since it introduced some last-minute modifications that allow the Government to increase public spending in strategic areas.
Despite the poor performance of the week, the , the main indicator of the São Paulo stock market, closed this Thursday at 104,366 points, with a rise of 0.44%.
In the exchange market, for its part, the dollar ended the day trading at 5.0590 reais for both buying and selling, with a depreciation of 0.49% compared to Wednesday’s close.
The reaction this Thursday after three days of losses was due to the optimism with which investors received the set of measures announced by the Government to encourage credit to companies.
The recovery was driven by the appreciation of 1.32% with which the common shares of the electric giant Eletrobras closed, the second most traded of the day, and the rise of 0.45% of the preferential shares of the oil company Petrobras (NYSE:) , third most traded.
Both helped offset the 1.58% drop suffered by the ordinary papers of the mining giant Vale, the most traded this Thursday, after the company reported a drop in its iron production in the first quarter of this year against to the last three months of 2022.
The Ibovespa shares that lost the most value this Thursday (-3.10%) were the preferred ones of Usiminas after the steel company reported a quarterly result below that expected by the market.
Next, among those that lost the most, were the preferential ones of the petrochemical company Braskem (-1.68%), the ordinary ones of the aircraft manufacturer Embraer (BVMF:) (-1.03%) and the ordinary ones of the Suzano paper mill ( -0.90%).
With 3,149,943 operations this Thursday, the São Paulo stock market mobilized a volume of 23,645.8 million reais (about 4,673 million dollars).
