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© Reuters. The Sao Paulo Stock Exchange advances 2.22% with optimism in the economic area
Sao Paulo, Mar 8 (.).- The Sao Paulo Stock Exchange advanced 2.22% this Wednesday due to the optimism that the new steps of the Government of Brazilian President Luiz Inácio Lula da Silva have aroused to achieve fiscal and tax balance in the country.
The index, a reference for the Brazilian parquet, the largest in Latin America by business volume, closed with 106,540 basis points, far exceeding the losses of 0.45% of the previous day.
In the foreign exchange market, the US dollar depreciated 1.04% and ended up trading at 5,138 reais for purchase and 5,139 reais for sale at the Brazilian commercial exchange rate.
Financial operators positively received the Executive’s intention to present a new fiscal framework before the end of March.
The Planning Minister, Simone Tebet, told reporters that the new tax rule that will replace the current spending ceiling will have as its main objective the balance “on the revenue side, but also on the spending side”, always with “social responsibility “.
However, he recalled that “there is no social without” taking care of the fiscal part, ratifying the Government’s commitment to the balance of the country’s public accounts.
The draft of the tax reform that Lula’s economic team intends to present to Congress, which includes the substitution of a series of taxes for “one or two” taxes on added value, also influenced the result this Wednesday.
All in all, the values that rose the most were the educational group YDUQS (+12.2%), the digital platform Locaweb (+11.8%) and the infrastructure operator Ecorodovias (+9.8%).
By contrast, the shares of agricultural producer SLC, paper company Suzano and Telefónica Brasil (BVMF:) were among the few that ended in the red, losing 2.1%, 0.6% and 0.5%. , respectively.
The most traded papers were the preferred ones of the state oil company Petrobras (NYSE:) (+1.3%) and the ordinary ones of the mining company Vale (+0.9%).
The volume traded on the São Paulo stock market exceeded 25,600 million reais (almost 5,000 million dollars), in 3.9 million financial operations, according to the results disclosed at the close.
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