©Reuters. The Sao Paulo Stock Exchange goes up and gains 0.54% driven by state-owned
Sao Paulo, Apr 7 (.).- The Sao Paulo Stock Exchange rallied in the second half of Thursday’s session and closed with a rise of 0.54%, in line with Wall Street and boosted by state-owned companies Petrobras ( NYSE:) and Eletrobras, the latter in the process of privatization.
The index, the floor’s reference, ended with 118,862 basis points, in an unstable day in which it fell by nearly 0.6% at the start, although it later reduced those losses until it ended up positive.
In this way, the Brazilian circle broke a streak of three consecutive sessions down (-0.55% on Wednesday; -1.97% on Tuesday and -0.24% on Monday), days in which it was affected by the uncertainty surrounding the future president of Petrobras.
However, the state oil company, once the impasse over the company’s new leadership was overcome, today contributed decisively so that the Ibovespa changed its sign and landed in the field of profits.
The preferred and common shares of Petrobras, controlled by the State, but with securities traded in Sao Paulo, New York and Madrid, advanced 5.2% and 5.0%, respectively, and ended up among the securities that appreciated the most , according to preliminary results.
The petrochemical company Braskem (7%) and the state-owned electricity group Eletrobras (3.1%), which is in the final stretch of its privatization process, also recorded strong gains.
On the contrary, the reinsurer IRB Brasil (-3.5%), the medical insurance company Hapvida (-3.2%) and the construction company MRV (-2.8%) recorded the biggest losses of the day
The volume traded on the Ibovespa today reached 27.3 billion reais (about 5.8 billion dollars), in a total of 3,521,996 financial operations.
The most traded papers were the preferred ones of Petrobras (5.2%) and the ordinary ones of the mining giant Vale (0.6%).
In the foreign exchange market, the US dollar rose 0.53% this Thursday in Brazil and closed at 4,740 reais for purchase and sale, at the Brazilian commercial exchange rate.
