© Reuters. Electronic panel with quotes from the financial market. 8/19/2021. REUTERS/Andrew Kelly
By Paula Arend Laier
SAO PAULO (Reuters) – It closed on a high this Wednesday, at the highest of the session and close to 121,000 points, favored by the external scenario, with new highs in Wall St, although discomfort with the political-fiscal situation in the country persists. .
Benchmark index of the Brazilian stock exchange, the Ibovespa rose 0.5%, to 120,817.71 points, reversing the weakness of part of the session, coming down to 119,225.93 points.
The trading volume in the trading session totaled 24.8 billion reais.
In New York, the currency advanced 0.2% to a new all-time high, as did the , which rose 0.15%, with no news to undermine positive market sentiment.
The attention abroad is focused on the Federal Reserve symposium, in Jackson Hole, mainly on the speech of the chair of the , on Friday, which could bring signals about the next steps of the US monetary policy.
In Brazil, in the view of the director of the Ohmresearch analysis platform, Roberto Attuch, signs that the National Congress will be fiscally responsible helped to stabilize the stock market, although the country is going through a difficult time.
Political-institutional stress and discussions about an increase in Bolsa Família and the precatory issue, according to him, with the presidential election in 2022 on the horizon, have undermined fiscal prospects and harmed the domestic market.
Despite the good moment abroad, with indices renewing highs, “the Brazilian stock market is suffering due to domestic factors, basically the political contaminating the fiscal issue,” he said.
The day’s macro agenda had strong growth in federal tax revenue last month, but acceleration of the preview of official inflation in August and an increase in the federal public debt in July.
From a graphic point of view, Itaú BBA stated that the Ibovespa continues to recover, with resistance at 121,300 and 123,600 points. “It is important to monitor whether the evolution of this movement will manage to take the index out of the short-term downtrend.”
Suzano (SA:) ON rose 5.44%, expanding the high in August to more than 15%, amidst analysts’ perceptions that the worst may have been left behind in terms of pressure on the price of pulp. KLABIN UNIT (SA:) gained 3.9%. Braskem PNA (SA:) advanced 3.92%, after Santander (SA:) reiterated its buy recommendation for the shares and raised the target price from 58 to 70 reais, considering that the positive momentum for petrochemical spreads will continue, and that the company should benefit from operational aspects by 2022. Analysts at the bank also estimate that strong cash generation and less leverage should translate into dividends.
Petrobras PN (SA:) rose 0.54%, with the strengthening abroad. The news about the company included the payment of the first installment of the advance payment to shareholders for 2021, and the request of shareholders to adopt multiple vote in election for the board of directors. In addition, EIG Global Energy Partners has sent Petrobras a binding bid worth hundreds of millions of dollars for the TBG and TSB pipelines, a source with direct knowledge of the matter told Reuters.
Vale ON (SA:) retreated 0.21%, resuming the negative bias after a truce the day before, when it closed up 3.65%, the biggest daily percentage increase since the beginning of May. Nor did the rally in China’s futures prevent the decline. In the mining and steel sector, the negative highlight was CSN ON (SA:), which ended at a low of 2.31%.
Banco Inter Unit (SA:) fell 4.42%, worst performance among Ibovespa banks, which had a mixed closing, with Itau Unibanco PN (SA:) rising 0.13% and Bradesco PN (SA:) advancing 0, 17%.
Americanas ON retreated 1.35%, after strong appreciation the day before, when it rose almost 10%. In the e-commerce sector, Magazine Luiza ON (SA:) increased 1.61% and Via ON dropped 0.27%. In New York, Mercado Livre (NASDAQ:) gained 0.9%, against the backdrop of the purchase of the Kangu parcel delivery platform, expanding the focus on proprietary logistics as a differential in Latin America.