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© Reuters. The Sao Paulo stock market falls in November for the fifth consecutive month
Sao Paulo, Nov 30 (EFE) .- The Sao Paulo stock market lost 0.87% in the session this Tuesday and closed November with accumulated losses of 1.53%, which represents the fifth consecutive monthly fall for the market. , weighed down by doubts about the economic recovery and the questioned fiscal agenda of the Brazilian Government.
The index, the benchmark for the stock market, closed with 101,915 points and accumulated an annual decline of 14.3% with one month left to end 2021.
The São Paulo market has not finished a positive month since June, when it advanced 0.46%. Since then, there has been a series of poor results that were especially accentuated in September and October, with falls of more than 6.5% for each period.
The origin of these turbulences is, on the one hand, in the fiscal maneuvers of the Government of Jair Bolsonaro to increase public spending in 2022, in which he will aspire to re-election; and, on the other, in the bad macroeconomic data that already anticipate weak growth for next year.
The Executive wants to increase social aid, but for this it intends to alter the spending ceiling and postpone a part of the State’s judicial debts, which caused weeks of great instability in the markets.
These measures are being analyzed today by the Senate, after receiving the approval of the Chamber of Deputies.
On the other hand, financial operators are also beginning to observe with concern the rebound in the covid-19 pandemic in Europe and the appearance of the new omicron variant of the coronavirus, whose potential for damage is still under study and there are already two confirmed cases of that lineage in Brazil.
In the foreign exchange market, the US dollar appreciated 0.48% this Tuesday and closed at 5.63 reais for buying and selling at the Brazilian commercial exchange rate.
In the month, the greenback lost just 0.17% of its value against the Brazilian currency.
All in all, the Sao Paulo stock market today subtracted 898 units from its accumulated score.
The volume traded reached 43,444 million reais (7,720 million dollars), in a total of 5,164,990 financial operations, numbers above the usual.
The securities that recorded the greatest losses were: the Locaweb hosting portal (-10%), the Meliuz discount coupon platform (-9.1%) and the CVC Brasil travel agency (-6.4%).
On the other side, at the forefront of the gains in the Ibovespa were the titles of the infrastructure operator CCR, which rose almost 7%.
The most traded shares were the preferred shares of the state oil company Petrobras (NYSE 🙂 (-0.1%) and the common ones of the mining giant Vale (0.6%).
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