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© Reuters. The Sao Paulo Stock Market falls with the announcement of incentives for the states
Sao Paulo, Mar 10 (.).- The reference index of the Sao Paulo Stock Exchange (B3), the , fell 1.38% this Friday, to 103,618 points, chaining two consecutive sessions down, according to the data Consolidated Closing.
The Ibovespa accumulated a negative variation of 0.23% during the week.
The Brazilian stock market operated with a trend contrary to that of the external stock markets, which had a positive day, and at the local level, the announcement by the Minister of Finance, Fernando Haddad, who announced a new package of resources for the States, had more weight.
Haddad indicated that the Government will compensate with 26,900 million reais (about 5,166 million dollars) to the states that stopped collecting with regional taxes repealed by the previous Government, of Jair Bolsonaro, to reduce the price of fuels.
Thus, the ordinary papers of the Vale mining company (-0.33%), one of the world’s largest producers and exporters of iron, ended the trading day as the most traded on the day, escorted by the preferential ones of the state oil company Petrobras ( NYSE:) (-1.30%).
The B3, the largest Latin American stock market by traded volume, concluded the session with more than 3.8 million transactions and operations for a value of 24,461 million reais (about 4,697 million dollars).
In the foreign exchange market, the dollar appreciated 1.30% this Friday against the real, to end the last day of the week quoted at 5,207 reais for both buying and selling at the commercial exchange rate.
In the five sessions of the week, the US currency appreciated 0.15% compared to the Brazilian denomination.
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