Ibovespa closes up 2.12% and returns to 100,000 points, driven by commodities; dollar drops 0.35%

The Ibovespa closed up 2.12% this Monday (27), at 100,763 points, returning to 100,000 points. The index had not closed above this level since June 15th. The main index of the Brazilian stock exchange managed to detach itself from the main indices of the United States, which fell.

Dow Jones, S&P 500 and Nasdaq fell, respectively, 0.20%, 0.30% and 0.72%, after, in the last week, all recorded strong advances.

“Having started positive, the day outside was marked by mixed feelings, with the market still eyeing inflation and recession”, comments Jennie Li, stock strategist at XP Investimentos. “The market has undergone major changes, with an eye on prices and prospects for the economy. Investors should wait this week for the publication of the PCE [Índice de Preços das Despesas de Consumo Pessoal]on Friday, the Federal Reserve’s favorite inflation indicator.

Today, in the United States, there was a disclosure that orders for durable goods were higher than expected in May, growing 0.7%, compared to a consensus of 0.1% – which may help explain the fear of higher inflation. , which took the treasuries yields of ten years to advance 8.1 basis points, to 3.205%.

In Brazil, what pushed the indices was the behavior of commodities, which advanced, in the majority. In China, iron ore advanced more than 4%, with the ton traded at US$ 119.60. Brent crude, in turn, closed up 1.67%, at US$ 115.01 a barrel.

The shares of Vale (VALE3) and Petrobras (PETR3;PETR4), therefore, were highlighted in the trading session. The mining company’s common shares advanced 4.60%, at R$78.05. The state-owned company’s common and preferred shares rose by 6.75% and 6.43%, respectively, to R$30.86 and R$27.98.

“A few days ago, we saw these companies suffering as much or more than the market, which was not common until then in 2022. Political pressure, fear of recession, lockdowns in China and higher interest rates in the US weighed on these companies”, comments Rafael Cota Maciel, equity manager at Inter Asset. “With Covid in China bringing some relief in recent days, commodity companies are likely to benefit.”

Maciel also points out that Petrobras surfed the news that Caio Paes de Andrade was approved by the board of directors for the position of president of the company, which reduces part of the risks that weighed on the shares.

Other names linked to oil such as 3R Petroleum (RRRP3) and Petro Rio (PRIO3) also had strong increases, rising, in sequence, 5.91% and 4.88%.

The rise in commodities also helped the real to gain strength against the US currency, with the prospect that Brazil may have a better trade balance. The commercial dollar closed the day down 0.35%, at R$5.233 on purchases and at R$5.234 on sale.

On the other hand, however, the rise in non-manufactured products was responsible for pushing the interest curve upwards, together with the fiscal risk – the proposed constitutional amendment (PEC) for fuels (which includes an increase in Auxílio Brasil, a gas and R$ 1,000 voucher for truck drivers) will be presented tomorrow in the Senate, putting R$ 34.8 billion outside the spending ceiling.

The DIs for 2023 and 2025 had their yields advancing four and nine basis points, to 13.68% and 12.59%, extending last week’s movement. Contracts for 2027 and 2029 saw their rates rise 10 and nine points to 12.53% and 12.66%.

“Companies linked to consumption were the highlights among the declines, with the prospect that the basic interest rate will rise more and remain high for longer than previously seen”, says Alexandre Espirito Santo, Chief Economist Órama Investimentos.

Méliuz’s common shares (CASH3) were the biggest drops on the Ibovespa, falling 5.56%, followed by the IRB (IRBR3), with minus 5.35% and Azul’s preferred shares (AZUL4), with minus 5.33%. , the latter also amid rising oil prices.

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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