© Reuters. The Sao Paulo Stock Exchange lost 0.38% in the first week of Lula’s government
Sao Paulo, Jan 6 (EFE).- The Sao Paulo stock market, which suffered sharp falls in its first days of business after the inauguration of Luiz Inácio Lula da Silva as president of Brazil, has recovered in recent days and ended the first week of the government of the progressive leader with a slight drop of 0.38%.
The , the reference index of the largest stock market in Latin America, closed this Friday at 108,963 points, with a rise of 1.23% in the day, the third consecutive rise, which allowed it to return to the level it had on its last day. business in 2022, last Thursday (109,374 points), before the return to power of the leader of the leftist Workers Party (PT (OTC:)).
The initial fear that the government that took office on Sunday will increase public spending and aggravate the already high deficit of the Brazilian public accounts gradually dissipated with weighted announcements from the new authorities and allowed the recovery of the São Paulo stock market.
The strong falls of the Ibovespa on Monday (-3.06%) and Tuesday (-2.08%) were followed by increases of 1.12% on Wednesday, 2.27% on Thursday and 1.23% this Friday.
In the same way, the dollar, after having registered strong appreciations against the real in the first days of Lula’s administration due to the uncertainty before the new government, lost ground in recent days and ended up accumulating a depreciation of 0.78 in the week. %.
The dollar depreciated 2.17% only this Friday, when it closed at 5,234 reais for purchase and 5,236 reais for sale at the commercial exchange rate.
The rise in the stock market and the fall of the dollar this Friday contributed not only to Lula’s reassuring announcements during the first meeting of his Cabinet, in which he said that Brazil will grow responsibly, but also to the disclosure of positive job creation data. in United States.
The appreciation of the papers of the mining giant Vale and of the banks helped the Ibovespa to end Friday in positive territory.
Vale’s common shares, the most traded of the day, closed up 1.53%.
Likewise, among the five most traded of the day, the preferential ones of Bradesco (BVMF:) and Itaú and the ordinary ones of Banco do Brasil (BVMF:), the three largest banks in the country, gained 2.53, 1.65 and 1.16%, respectively.
Of the five most traded papers, the only ones that ended with losses were the preferred ones of Petrobras (NYSE:) (-0.71%).
The titles that closed with the highest increases this Friday were the ordinary ones of the Lojas Americanas store network (7.22%), followed by the ordinary ones of the mining company CSN (6.67%) and by the ordinary ones of the insurance operator of Qualicorp health (6.24%).
At the opposite end, the greatest losses were suffered by the preferred shares of the electric company Copel (-1.96%), the ordinary shares of the aircraft manufacturer Embraer (BVMF:) (-1.62%) and the unit shares of the paper company Klabin (-1.31%).
The volume traded on the São Paulo stock market this Friday was 23,026.5 million reais (about 4,397.7 million dollars) in 3,752,970 financial operations.