© Reuters. The Sao Paulo Stock Exchange registers a strong rise after the announcement of the fiscal project
Sao Paulo, Mar 30 (EFE).- The Sao Paulo Stock Exchange advanced 1.89% this Thursday, driven by the papers of the mining giant Vale, one of its main values, and the presentation of a tax regime project with the that the Government of Luiz Inácio Lula da Silva intends to adjust the public accounts.
The , the reference index of the São Paulo stock market, closed the day at 103,713 points and linked five consecutive sessions of gains.
The fiscal project, which was sent to Congress this Thursday, allows public spending to be raised above inflation but limits this increase to 70% of the variation in primary fiscal revenues in the last year.
Thus, the proposal intends to increase the limit for public spending in areas that are a priority for the Lula da Silva government, such as education and health, and to increase investments, but without generating a lack of control in public accounts.
The news encouraged stock market operators, who saw the proposal as a government commitment to control public accounts.
The raw materials sector also helped boost the São Paulo market, especially the , which caused the ordinary papers of the mining giant Vale to appreciate 1.63% and were the second most traded of the day after the preferential ones of Petrobras ( NYSE:) (+0.29%).
The greatest gains were for the ordinary titles of the health services company Rede D’Or (8.96%) and the similar ones of the company that produces wood panels and ceramic and sanitary products Dexco (8.57%).
On the opposite side, the common shares of Grupo Natura, which operates in the cosmetics sector, registered the highest losses (-2.08%), together with the common shares of the meat food company Minerva (-2.02 %).
In the foreign exchange market, the US dollar depreciated by 0.72% and ended the day at 5,096 reais for purchase and 5,097 reais for sale at the commercial exchange rate.
During the day, the volume traded on the Ibovespa exceeded 23,906 million reais (about 4,696 million dollars), in more than 3.6 million financial operations.
