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©Reuters. The Sao Paulo stock market rises for the fourth time and accumulates a weekly rise of 3.2%
Sao Paulo, Aug 5 (EFE).- The Sao Paulo stock market gained 0.55% in the session this Friday to chain its fourth consecutive rise and end the week with an accumulated rise of 3.20%, despite renewed tensions between China and the United States, Brazil’s two largest trading partners.
The benchmark index for the Brazilian stock market closed with 106,471 points, on a day in which it managed to distance itself from the instability experienced in part of the international markets, including Wall Street.
The São Paulo market thus continued a positive trend after advancing almost 4.3% the previous week.
In the foreign exchange market, the US dollar depreciated 1.05% today and ended up trading at 5.166 reais for buying and selling, at the Brazilian commercial exchange rate.
In the week, the greenback lost 0.15% against the Brazilian currency, affected by the deterioration of relations between China and the US, as a result of the controversial visit of the president of the US House of Representatives, Nancy Pelosi, to Taiwan.
The operators of the São Paulo stock market were this week more aware of the quarterly balance sheets of Brazilian companies and the decision of the Central Bank, which once again raised official interest rates by half a point, to 13.75% per year.
In this way, the Ibovespa managed to avoid the fluctuations in the foreign scenario and cope with the latest drops in the international prices of raw materials, which rose slightly today.
In this context, the mining company Vale and the state oil company Petrobras (NYSE:), the two most valuable assets on the floor, recorded 1.3% and 1.9%, respectively, being the most traded titles of the session.
However, leading the gains on the Ibovespa were the shares of the petrochemical company Braskem (3.5%) and the oil companies PetroRio (3.0%) and 3R Pretroleum (2.8%), among others.
On the negative side, the footwear company Alpargatas led the losses this Friday, leaving 13.5% in its preferred papers.
The volume traded reached 26.1 billion reais (about 5.05 billion dollars), in 3,673,976 financial operations, according to preliminary results at the end of the session.
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