© Reuters. Electronic panel with quotes from the financial market. 7/19/2021. REUTERS/Andrew Kelly
By Paula Arend Laier
SAO PAULO (Reuters) – The currency closed on a fall on Monday, reflecting position adjustments after rising more than 2% last week, with blue chips among the biggest downward pressures, while New York set new records for and Composite.
Benchmark index in the Brazilian stock market, the Ibovespa fell 0.78% to 119,739.96 points. The financial volume in the penultimate trading session of the month totaled 21.5 billion reais, with a daily average of more than 33 billion reais in the month.
On Friday, the Ibovespa had risen, securing a positive 2.2 percent performance for the week, mostly endorsed by comments from the Federal Reserve chairman.
The agenda for the session brought a deceleration in inflation measured by August and some improvement in fiscal data for July released by the National Treasury, as well as more positive signs on the problem of court-ordered debts.
Even so, the São Paulo stock exchange was unable to keep up with Wall St, which saw new records, given the persistent discomfort with the political-institutional tension in Brazil, in addition to continuous fiscal fears and the water crisis in the country.
According to Terra Investimentos analyst Régis Chinchila, operators are also paying attention to the protests on September 7, “seen as a thermometer of support for the government of President Jair Bolsonaro”.
The water crisis is also a cause for concern, he added, mainly because of the risks to the behavior of inflation and economic activity in Brazil.
From a technical point of view, the Safra team mentioned that the Ibovespa is undefined in the short term and tested its resistance at 120,800 points.
“Above that, it could reach its next resistance at 123,600 points. On the bearish side, the index finds support at 116,300 points. Below that, it could reach its next support at 115,500 points,” he said in a note to clients earlier.
In the US, the S&P 500 and Nasdaq Composite rose to new highs.
– PETROBRAS ON (SA:) gave 1.24%, despite the positive closing abroad. The company is preparing the early redemption of its 1.3 billion dollars bonus and reiterated that it wants the full sale of its stake in Braskem (SA:).
– B3 ON (SA:) fell 1.72%, after recovering last Friday, when it closed up 2%. The share accumulates in August a loss of more than 10% which, if confirmed, will be the worst monthly performance since March 2020.
– ITAÚ UNIBANCO PN (SA:) and BRADESCO PN (SA:) withdrew 0.72% and 1.07%, respectively, with the entity that represents the large banks, Febraban, involved in a controversy over a manifesto in defense of democracy which includes various business organizations.
– VALE ON (SA:) fell 0.64%, in a mixed trading session in the mining and steel sector. PNA USIMINES (SA:) gained 0.76%.
– CYRELA ON (SA:) had a decline of 4.04%, after having advanced almost 15% last week. The real estate index on B3 lost 1.88%.
– AMERICANAS ON (SA:) and LOJAS AMERICANAS PN (SA:) increased 2.69% and 2.86%, respectively, reflecting adjustments. Both still accumulate in August losses of 13.68% and 12.04%, respectively. In the sector, MAGAZINE LUIZA ON (SA:) fell 0.79% and VIA ON (SA:) fell 1.01%.