© Reuters. The Sao Paulo Stock Exchange gains 0.8% due to expectations about the new tax regime
Sao Paulo, Mar 27 (.).- The Sao Paulo Stock Exchange advanced 0.85% this Monday due to the expectations generated in the market about the possible announcement of a new tax regime by the Brazilian Government in the coming days.
The , the reference index of the São Paulo stock market, closed with 99,670 basic points and thus linked two consecutive sessions of gains, after rising 0.92% on Friday, something that had not happened for almost a month.
In the foreign exchange market, the US dollar depreciated 0.83% and ended the day at 5,205 reais for purchase and 5,206 reais for sale at the Brazilian commercial exchange rate.
Stock market operators are waiting to learn the details of the new fiscal rule that has been drawn up by the economic team of President Luiz Inácio Lula da Silva and that intends to replace the current spending ceiling.
The Minister of Planning, Simone Tebet, announced that the new regime will balance expenses and income, and that it is already in the hands of Lula to give the final touches to the project before sending it to Congress for analysis.
The raw materials sector also helped boost the Ibovespa today, with increases for the oil companies PetroRio (+4.4%), the state-owned Petrobras (NYSE:) (+1.7%) and 3R Petroleum (+1.9% ).
The shares of the ethanol producer and Raízen (+4.1%), the petrochemical company Braskem (+3.9%) and the construction company Cyrela (+3.8%) also rose sharply.
On the other side of the coin, the CVC Brasil travel agency, the YDUQS educational group and the Azul airline recorded the biggest losses of the session by giving up 5.4%, 3.2% and 2.9% , respectively.
The volume traded on the Ibovespa exceeded 16,500 million reais (about 3,170 million dollars), in 2.8 million operations, numbers below the usual numbers, according to preliminary results released at the end of the session.
