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© Reuters. The Sao Paulo stock market rises 0.11% on the day of Lula’s new appointments
Sao Paulo, Dec 22 (EFE).- The Sao Paulo stock market rose 0.11% this Thursday in a session of ups and downs marked by the appointment of 16 new ministers by the Brazilian president-elect, Luiz Inácio Lula da Silva, who He will assume power on January 1.
The , the benchmark index for the parquet, closed with 107,551 basis points and chained its fourth consecutive day in the green.
In the foreign exchange market, the US dollar depreciated 0.33% in Brazil and ended up trading at 5,185 reais for buying and selling, at the commercial exchange rate.
The losses on Wall Street and in a large part of the European stock markets weighed down the Brazilian market, which registered large fluctuations throughout today’s session.
On the domestic scene, Lula announced 16 new ministers for his future cabinet, most of them linked to the Workers’ Party (PT (OTC:)).
Several of them also worked in the previous administrations of Lula (2003-2010) and Dilma Rousseff (2011-2016), which raised some misgivings among financial operators.
However, the appointment of Vice President-elect Geraldo Alckmin, a liberal politician, as future Minister of Industry and Commerce was positively received.
Two weeks ago, Lula announced another five ministers, with which he has already defined 21 of the 37 that will make up his cabinet.
Among the biggest gains on the Ibovespa were the shares of the meat companies Marfrig (6.7%) and JBS (3.2%).
On the contrary, the titles of the technology companies Locaweb (-4.1%) and Positivo (-2.3%) fell sharply.
The most traded titles were the preferred ones of the state oil company Petrobras (NYSE:) (1.8%) and the ordinary ones of the mining company Vale (-0.6%).
The traded volume exceeded 20,000 million reais (3,850 million dollars), in 3,358,785 operations, according to preliminary results at the end of the session.
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