Ibovespa closes on a fall led by Petrobras after Bolsonaro talks about fuel – Money Times

Ibovespa Markets
The Ibovespa fell 1.08% to 118,442.04 points (Image: REUTERS/Amanda Perobelli)

O Ibovespa (IBOV) closed down this Tuesday, with Petrobras (PETR4) among the biggest falls, amid new noises involving the prices of fuels the country, while concerns about the fiscal scenario and the political-institutional crisis in the country also persist.

Reference index of the Brazilian stock market, the Ibovespa closed down 0.80%, to 118,781.03 points, moving away from the lows of the session, when it dropped to 117,910.97 points.

In addition to the traditional month-end adjustments, the last trading session of August also had as a backdrop operations related to the rebalancing of MSCI indices, benchmarks for global stock markets.

Petrobras (PETR4) and Petrobras (PETR3) retreated 3.92% and 2.79%, respectively, amid comments by the president Jair Bolsonaro. To supporters, he said: “So, Petrobras is now in order, we are now starting to work on the issue of fuel prices.”

Valley (VALLEY3) fell 1.37%, in the wake of the decline in iron ore prices in China, which also weighed on the Ibovespa, while Itaú Unibanco (ITUB4) rose 1.31% and B3 (B3SA3) advanced 2.70%, easing the downward pressure.

Braskem (BRKM5) rose 5.60%, renewing historical highs and positive highlight in the session, amid expectations related to the movement of its controllers – Novonor and Petrobras -, who seek to sell their respective stakes in the petrochemicals.

How was the Stock Exchange in August?

The performance of the Ibovespa on Tuesday ensured a decline of 2.48% accumulated in August, in the second negative month, with the index now registering a loss of 0.20% in 2021.

The biggest falls in the month were CSN (CSNA3), with a decline of 23.35%, Via (VVAR3), with a decrease of 17.47%, and surpass (UGPA3), with a loss of 17.25%. At the other end, the highlights were embraer (EMBR3), with an increase of 25.98%, CPFL Energia (CPFE3), with a gain of 14.69% and Braskem (BRKM5), with an increase of 14.27%.