© Reuters. The Sao Paulo stock market closes in the red, but rises 1.44% in the week
Sao Paulo, Nov 12 (EFE) .- The Sao Paulo stock market fell 1.17% this Friday, but registered a weekly rise of 1.44% after a streak of three consecutive sessions in green that has been interrupted due to bad macroeconomic data, among other factors.
The index, the benchmark for the stock market, finished with 106,334 points, in a day marked by caution in which it practically nullified the gains it made the day before, when it bounced by 1.54%.
Financial operators received with some pessimism data from the Brazilian services sector, which accounts for about 70% of the country’s GDP, after falling 0.6% in September compared to August, which meant the end of five consecutive months of growth.
Despite the fact that activity has recovered the levels observed before the coronavirus pandemic, the bad data for September shows the fragility of the macroeconomic scenario in Brazil, which also deals with high unemployment and inflation that is close to 11% year-on-year.
However, in general terms it was a week of relative truce in the São Paulo market, which seems to have overcome the turbulence caused by the fiscal maneuvers of the Jair Bolsonaro government to increase social spending in 2022, the year in which he will aspire to re-election.
In the foreign exchange market, the US dollar appreciated 1.0% this Friday and closed at 5.46 reais for buying and selling, at the Brazilian commercial exchange rate.
During the week, the greenback lost 0.90% against the Brazilian currency.
All in all, the Sao Paulo stock exchange today subtracted 1,260 units from its accumulated score.
The volume traded exceeded 31.7 billion reais (5.8 billion dollars), in a total of 4,354,036 financial operations, according to preliminary results.
The biggest losses were recorded by department stores Magazine Luiza and Grupo Natura, whose common shares plummeted 18.3% and 17.5%, respectively.
In both cases, the quarterly results influenced, which did not meet the expectations of the financial market.
The papers of the travel agency CVC Brasil (-9.3%) and the accommodation portal Locaweb (-8.6%), among other values, also yielded.
On the other hand, the preferred papers of the state oil company Petrobras (NYSE :), one of the flagships of the market, rose by 2.0%, whose securities were also the most traded of the session together with the ordinary ones of Grupo Natura .