© Reuters. The Sao Paulo stock market rises 0.60% driven by Petrobras and Vale
Sao Paulo, Mar 29 (EFE).- The Sao Paulo stock market closed this Wednesday with a rise of 0.60% and its index at 101,792 points, its highest level in ten days, driven by the appreciation of shares from the oil company Petrobras (NYSE:) and from the mining company Vale.
On a day of strong oscillations in which investors were waiting for the Government to disclose some detail of the new rule with which it will try to adjust public accounts, the Ibovespa fell 0.90% at midday and rose 1.0 % a few minutes before closing.
The index oscillated to the vaivén of the information on the conversations that the Minister of Economy, Fernando Haddad, had both with President Luiz Inácio Lula da Silva and with the leaders of Congress on the new fiscal framework for the country.
But at the end of the day, the Ibovespa ended in positive territory, noting its fourth consecutive increase, thanks to the appreciation of the shares of Petrobras and Vale, traditionally the most traded papers in the largest stock market in Latin America.
The ordinary papers of the miner were the most traded of the day and ended the day with a rise of 1.44% while the preferential papers of the oil company, the second most traded, closed with gains of 1.31%.
The shares that ended the day with the highest rises were the common shares of the health insurance operator Hapvida, with a jump of 4.94%, followed by the common shares of the ethanol producer Sao Martinho (+4.07%) and by the preferences of the also manufacturer of ethanol Raizen (+3.77%).
The papers that lost the most value this Wednesday were the ordinary ones of the health insurance operator Qualicorp, with a fall of 5.97%, followed by the unitary and ordinary ones, respectively, of the Lojas Renner department store networks (-4 .87%) and Via Varejo (-4.12%).
The volume traded in the session was 19,576.3 million reais (about 3,816 million dollars) as a result of 3.25 million operations.
In the foreign exchange market, the US dollar depreciated 0.58% and ended the day trading at 5,133 reais for purchase and 5,134 reais for sale at the Brazilian commercial exchange rate, its lowest value since February 2.
