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© Reuters. The Sao Paulo Stock Exchange falls 2.91% due to uncertainty about fiscal policy
Sao Paulo, Nov 16 (.).- The Sao Paulo Stock Exchange fell 2.91% this Wednesday and its index stood at 110,243 points, weighed down again by the uncertainty generated by the team of the president-elect, Luiz Inácio Lula da Silva, about the fiscal policy of the next Government and about the prices of .
At its minimum for the day, the indicator fell by 3.52%.
The impact was also felt in the exchange market, where the dollar appreciated by 1.53%, closing at 5,380 reais for both buying and selling at the commercial exchange rate.
Investors do not hide their concern over the criticism of the control of public spending made by Lula, who seeks to permanently eliminate the current limit that slows him down in order to fulfill his promises to increase subsidies for the poorest.
The market fears that if a constitutional amendment is approved – which will still be presented this Wednesday within the framework of the transition process that is taking place between the two governments – it will increase spending next year and therefore increase public debt.
The prices of oil futures contracts, which closed lower this Wednesday, also influenced the São Paulo crowd as they depreciated the papers of the state oil company Petrobras (NYSE:) (-1.99%), one of its main values, which were among the most traded.
The losses, however, were led by the ordinary ones of the health plan operator Hapvida (-10.94%) and the similar ones of the department store chain Lojas Americanas (-9.81%).
Already among the main gains of the day were the ordinary titles of the state company Embraer (BVMF:) (+9.94%) followed by the same of the paper company Suzano (+1.49%).
During the day, 51,024 million reais (about 9,484 million dollars) were traded as a result of 5,495,365 financial transactions.
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