O Ibovespa (IBOV) closed higher on Wednesday, starting September in the blue after two consecutive months of losses, endorsed by the favorable external scenario, in addition to adjustments to traditional positions at the beginning of the month.
Reference index of the Brazilian stock exchange, the Ibovespa rose 0.52%, to 119,395.60 points. The financial volume of the session totaled 29.5 billion reais.
The day before, the Ibovespa had a decline of 0.8%, accumulating a 2.5% loss in August, after a 3.9% drop in July, amid worsening sentiment towards Brazil with a perception of increased risks fiscal and political.
Strategists of BTG Pactual (BPAC11) see the São Paulo stock exchange still volatile and with no trend in September, while investors await the outcome of the new expanded social program and payment of court orders, according to a report to clients.
“The market wants a solution that respects, as much as possible, the spending ceiling, the powerful, but unfortunately unique, fiscal anchor in Brazil,” they said, noting that preserving this rule could rekindle the stocks’ upward trend.
Abroad, the Nasdaq index renewed highs, with weaker-than-expected data on US private sector jobs, while manufacturing activity picked up.
ADP earlier reported that 374,000 jobs were created in the private sector in August, lower than forecast by economists, who estimated the creation of 613,000 jobs.
The national manufacturing activity index measured by the Supply Management Institute (ISM), in turn, rose to 59.9 in August, compared to 59.5 in July and above expectations.
For the investment director at Reach Capital, Ricardo Campos, the expectation that this set will lead to the maintenance of stimulus by the Federal Reserve helped the Ibovespa.
“Despite the better ISM, the lower ADP number makes investors more confident that interest rates will not rise anytime soon (in the US),” he said.
In Brazil, the session was also marked by data showing that the Brazilian economy shrank 0.1% in the second quarter, reflecting weak performances in industry and agriculture, which overshadowed the strength of services.
B3 (B3SA3) advanced 2.56%, the second consecutive high, after ending August with a decline of 7.7%, with analysts assessing that the effects of lower than expected volumes, competition and legal risks, are already in the price.
Marfrig (MRFG3) closed up 4.88%, renewing highs since March 2010, in a session without a single bias in the protein sector, with Jbs (JBSS3) ending stable and Minerva (BEEF3) falling 1.67%.
eneva (ENEV3) appreciated 4.02%, in an adjustment session after losing 7% last month, in a positive session for the electricity sector, with the segment index in B3 advancing 2.43%, with the water crisis in the country on the radar .
Eletrobras (ELECT3) advanced 2.79%, after the government took another step towards capitalizing the electricity, setting at 62.5 billion reais the value added by the new generation concession contracts for the company’s 22 plants.
Valley (VALLEY3) rose 0.17%, reversing losses from the beginning of trading, with the mining and steel sector ending without a single sign, after another session of low iron ore prices in China.
Usiminas (USIM) retreated 2.59%.
Petrobras (PETR4) fell 0.55%, amid slight fluctuations in oil abroad, in addition to noise involving fuel prices in the country.
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