The main stock index of the São Paulo stock exchange, the B3, closed higher this Monday (6), but the trading volume was reduced without the reference of Wall Street and some caution before the Brazilian holiday on Tuesday .
The Ibovespa rose 0.80% to 117,868 points. See more quotes.
On Friday, the stock market closed up 0.22%, at 116,933 points. With the result of this second, the Ibovespa started to accumulate a decrease of 0.77% in the month and a loss of 0.97% in the year.
On the agenda of indicators, the Central Bank released the Focus Bulletin earlier, which pointed to a new worsening in market estimates for the Brazilian economy: expected inflation for this year rose to 7.58%, while GDP expansion was revised to 5 .15%.
The anticipation of the September 7 events in the streets and its political ramifications have been setting the pace in the markets for a few days. On Friday, President Jair Bolsonaro made strong statements on the issue and said that the demonstrations will be an “ultimatum” for those who, according to the president, violate the Constitution.
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The STF, on the other hand, has started to adopt a series of measures to counteract any excesses that may occur in the protests, concerned about threats made by Bolsonaro and his allies, said court sources with whom Reuters spoke in recent days.
“There are people doing a parallel with 2013, when there was a crash. Now more people are vaccinated, so they can go out on the streets, and with that the market is more defensive,” Gustavo Cruz, strategist at RB Investimentos, told Reuters.
He was referring to the wave of protests across the country in June 2013, followed by the sharp drop in popularity of then-President Dilma Rousseff.
Amidst the fierce political climate, the strategist considered it difficult to think of a scenario of optimism and less volatility for Brazil next year.
“The opportunity cost of investing in Brazil has already gotten higher and we have to wait for what it will be.”
Ibovespa variation in 2021 — Photo: G1 Economy