©Reuters. The Sao Paulo Stock Exchange loses 2.86% and the dollar shoots up 4% in Brazil
Sao Paulo, Apr 22 (.).- The Sao Paulo Stock Exchange lost 2.86% this Friday and its index, the floor’s reference, stood at 111,077 points, according to preliminary data, following in the wake of international markets by fear of a faster rise in interest rates.
Likewise, the dollar soared 4.04% and was traded at 4,805 reais for purchase and 4,806 reais for sale at the commercial exchange rate, amid global risk aversion.
After Thursday’s holiday in Brazil, the market today reacted negatively to the statements made by the president of the Federal Reserve (Fed) of the United States, Jerome Powell, who on Thursday stated that a future rise in interest rates of half a point in May it is something that “is on the table”.
The possible rise in rates caused widespread losses in the São Paulo market and only the preferred shares of the electric company Copel closed in the green (+1.22%) this Friday.
In terms of losses, the papers that lost the most were the ordinary papers of the Siderúrgica Nacional, which lost 7.59%.
However, the most traded were those of the mining company Vale, one of the largest iron ore exporters in the world, which continued its negative streak and depreciated 6.15%, amid the drop in the price of .
Behind were the preferential titles of the state oil company Petrobras (NYSE:) (4.18%) amid the fall in the price of in the international market.
During the day, 28,733 million reais (5,986 million dollars) were traded, as a result of 3,879,603 financial transactions.
In the week the Sao Paulo Stock Exchange fell 4.3%.