©Reuters. The Sao Paulo stock market falls 2.34% due to international pessimism
Sao Paulo, May 18 (.).- The Sao Paulo stock market fell 2.34% this Wednesday in line with the bulk of international markets in the face of worse growth prospects for the global economy, amid generalized inflationary pressures.
The , the benchmark index for the Brazilian parquet, closed with 106,247 basis points, in a red-tinted session in which it fell by more than 2.5% shortly before closing the curtain.
In the foreign exchange market, the US dollar appreciated 0.78% in Brazil and ended the day trading at 4.980 reais for purchase and sale, at the Brazilian commercial exchange rate.
Investors in the Sao Paulo stock market were infected by international pessimism, which also caused large losses on Wall Street as a result of fears of a firmer monetary tightening by the US Federal Reserve.
The downward forecasts for growth in the world’s main economies and the slowdown that the war in Ukraine has brought to global recovery, after the serious coronavirus crisis, also influenced the mood of financial operators.
All in all, the Sao Paulo stock market subtracted 2,542 units from its accumulated score.
The financial volume was around 30,000 million reais (about 6,000 million dollars), in a total of 4,062,356 financial operations, according to the preliminary results at the end of the session.
The securities that recorded the greatest losses were Banco Inter (-8.6%), the fuel distributor Ultrapar (-7.7%), the construction materials company Dexco (-6.4%) and the Company National Steel (-5.8%).
On the other side of the coin, health insurance company Hapvida and road operator EcoRodovias led the day’s gains, bouncing 4.4% and 2.3%, respectively.
The most traded shares were the preferred shares of the state oil company Petrobras (NYSE:) (-1.6%) and the ordinary ones of the mining company Vale (-2.5%).