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© Reuters. The Sao Paulo Stock Exchange overcomes ups and downs and closes with a weekly rise of 2.70%
Sao Paulo, Dec 2 (.).- The Sao Paulo Stock Exchange rose 0.90% in the session this Friday and closed with a weekly rise of 2.70%, driven by large values and without neglecting the footsteps of the Brazilian president-elect, Luiz Inácio Lula da Silva.
The , the reference index for the parquet, finished with 111,923 points, in a session full of ups and downs and with a lower than usual turnover due to the match between Brazil and Cameroon for the last day of the group stage of the World Cup in Qatar.
In the foreign exchange market, the US dollar appreciated 0.36% today and closed at 5,214 reais for purchase and 5,215 reais for sale, at the commercial exchange rate.
In the accumulated value of the week, the greenback depreciated 3.6% against the Brazilian currency.
Financial operators reacted positively to reports in the local press that the package of social measures presented to Congress by Lula’s allies could be less ambitious than expected.
The president-elect, who will assume power on January 1, did not give any clues today about the names of his cabinet and, at a press conference in Brasilia, stated that he will only announce them as of December 12.
However, he pointed out that he already has 80% of his ministers “in his head” and anticipated that the future head of the Economy, who is speculated to be the former presidential candidate Fernando Haddad, will be someone “who has the face” of his first mandate.
Lula, who ruled Brazil between 2003 and 2010, also warned that he wants to have a say in the country’s economic and political decisions, despite the autonomy of the ministries.
The rise this Friday was also influenced by the gains of the great values of the São Paulo market, such as the mining company Vale (+0.7%), the state oil company Petrobras (NYSE:) (+1.2%) and the Itaú bank (+1.3%).
Although the company that presented the best results was Grupo Natura, whose ordinary shares shot up 10.1%.
On the contrary, the electric company Eletrobras fell, with a fall of 4.6% in its ordinary paper, as well as the Suzano paper mill (-3.4%) and the Pao de Açúcar supermarket chain (-2.2%).
The traded volume was close to 27,000 million reais (about 5,175 million dollars), in 3,598,583 operations, according to preliminary results at the end of the day.
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