©Reuters. The Sao Paulo stock market follows the international trail and advances 1.18%
Sao Paulo, May 26 (EFE) .- The Sao Paulo stock market gained 1.18% this Thursday and its index, a benchmark for the parquet, closed with 111,889 points, driven by the good mood of the international markets and despite the poor performance of the electrical sector.
In the foreign exchange market, the US dollar depreciated sharply, falling 1.22% in Brazil, ending the day trading at 4,760 reais for purchase and sale, at the Brazilian commercial exchange rate.
The Brazilian market, which has closed in green in five of the last six sessions -on Wednesday it closed stable (0.00%)-, continues to be installed in positive territory, despite the delicate global economic moment, weighed down by the war in Ukraine and new outbreaks of covid-19 in China.
Today’s rise, however, still responds to the tone of the minutes of the last meeting of the United States Federal Reserve (Fed), which, although it warned of persistent inflation, did not give signs of a possible more aggressive monetary adjustment in the next few months, as disclosed the day before.
In this context, Wall Street and a good part of the European stock markets closed in the green, a trail that was also followed by the Ibovespa.
All in all, the São Paulo parquet added 1,310 units to its accumulated score, in a session with a volume of about 27,000 million reais (5,700 million dollars), in a total of 3,840,324 financial operations, according to preliminary results.
The biggest jump was made by the shares of the financial firm Cielo (11.3%), the department store Magazine Luiza (9.7%) and the logistics company Rumo (7%).
On the contrary, the electricity sector was the big loser of the day, with notable falls for Energisa (-3%), Cemig (-2.6%), CPFL (SA:) Energy (-2.5%) and the state group Eletrobras (-2.5%), which is in the final stretch of its privatization.
The most traded titles were the preferred ones of the state oil company Petrobras (NYSE:) (0.2%) and the ordinary ones of the mining giant Vale (-0.06%), as well as those of Itaú, the largest private bank in the country ( 1.2%).