© Reuters. The Sao Paulo Stock Exchange falls due to a delay in the presentation of a new fiscal rule
Sao Paulo, Apr 17 (.).- The Sao Paulo Stock Exchange, the largest stock market in Latin America, closed this Monday with a drop of 0.25% and its reference index at 106,015 points, given the concern of investors with the delay of the Brazilian Government in sending to Congress its proposal for a new fiscal rule.
The São Paulo parquet, which accumulated a strong rise of 5.41% last week, its best performance for a week in 2023, registered its third consecutive slight drop on Monday after the Ministry of Finance admitted that it could take until Tuesday or Wednesday to send to Congress its draft of the new fiscal adjustment rule.
The proposal, whose approval is eagerly awaited by investors, allows the Executive to increase its spending above the inflation of the previous year but establishes several measures to guarantee the consolidation of public accounts and foresees that Brazil will end this year without a fiscal deficit primary.
The unexpected announcement by the oil company R3 that it will carry out a capital increase also contributed to the negative result of this Monday, which caused a 15.7% drop in the price of its unit shares, which were the third most traded in the day and recorded the worst decline.
The continued depreciation of the papers of the electric giant Eletobras also contributed to the drop in Ibovespa, with ordinary ones falling 3.75% this Monday and preferential ones 3.30%, fearing that the Government of Luiz Inácio Lula da Silva announce some measure to reverse the process by which the company was privatized.
The close in red on the São Paulo stock market was also caused by the 1.19% depreciation of the common shares of the mining giant Vale, which were the most traded papers on the day.
The second most traded papers this Monday were the preferential ones of the oil company Petrobras (NYSE:), whose rise of 1.56% helped to minimize the losses on the Ibovespa.
With the 3,210,902 operations registered, the main Latin American parquet mobilized a volume of 19,677.2 million reais (about 3,986.3 million dollars) this Monday.
In the exchange market, the dollar, in a day of adjustment after the strong depreciation that accumulated last week against the real (2.82%), closed this Monday with an appreciation of 0.43% with respect to the currency Brazilian and quoted at 4.9363 reais for both purchase and sale.
