The Sao Paulo Stock Exchange closes with a strong rise of 2.27% By EFE

Sao Paulo, Jan 5 (EFE) , scheduled for Friday, and the shares of its main securities.

In the foreign exchange market, the US dollar depreciated by 1.84% and is quoted at 5,351 reais for both buying and selling, at the commercial exchange rate.

Investors are still trying to understand what the new government’s fiscal and economic policy will be and hope that the issue will move forward at the ministerial Cabinet meeting called by Lula for Friday, after a week of rumors and conflicting statements among members of the current administration.

After collapsing more than 3% on Monday and continuing in the red on Tuesday (-2%), the stock market began to recover the day before (1.12%) after the government candidate to lead Petrobras (NYSE:), Jean Paul Prates, ruled out a direct intervention in fuel prices.

To this were added statements by senior officials who denied a new pension reform, such as the Minister of Planning Simone Tebet, who said this Wednesday, upon taking office, that the issue “is not on the radar” of the Government.

The rise in the big stocks on the São Paulo stock market, such as the Vale mining company and the Petrobras oil company, also helped boost the stock market.

The ordinary papers of Vale (1.68%) were the most traded of the day, followed by the preferential ones of the Bradesco bank (BVMF:) (4.34%) and the similar ones of the Brazilian oil company Petrobras (3.60% ).

On the day, the highest gains were for the department store chain Lojas Americanas whose ordinary shares advanced 11%, together with the preferential shares of the Brazilian airline Azul (9.38%).

On the opposite side, the losses were led by the preferred shares of the Raizen company (-2.71%) and the ordinary shares of the Sao Martinho company (-2.14%), both ethanol producers.

During the day, a financial volume of more than 27,728 million reais (about 5,231 million dollars) was negotiated, in 4,008,062 financial operations.