Ibovespa rises more than 2% this Friday, pulled by Vale’s shot | Economy

The Ibovespa, the main index of the São Paulo stock exchange, the B3, closed with a sharp rise this Friday (9), following the positive day in foreign markets and in view of the rise in commodities, which made Vale rise more than 7 % on the trading floor.

The Ibovespa rose 2.17% to 112,300 points. The stock market accumulated a high of 1.30% in the week. See more quotes.

On Thursday (8), the stock market closed up 0.14%, at 109,916 points. With today’s result, the stock market accumulated highs of 2.54% in the month and 7.13% in the year.

What is messing with the markets?

Investors spent the day watching the direction of interest rates abroad. The day before, the European Central Bank raised the bloc’s basic interest rate to 0.75% – the first time the rate has gone positive since 2011.

Outside, the day was high on the stock markets, with the advance in oil prices. Yesterday, the price of the commodity recovered after registering lows for ten days, thanks to purchases at a good price in a context of threats of further reduction in Russian fuel exports.

The rise in the Ibovespa was pulled this Friday by Vale, amid the rise in iron ore futures contracts on the Dalian and Singapore exchanges, which had the biggest gains in the last six weeks. This comes in a context where China, the biggest steel producer, has announced new measures to support its economy devastated by Covid-19.

On the local scene, investors evaluate the August inflation data, released earlier by the Brazilian Institute of Geography and Statistics (IBGE): the Broad Consumer Price Index (IPCA) was -0.36% in the month, leading to accumulated in 12 months at 8.73%, the lowest rate since June 2021.

Investors analyze the data in search of signs of the Central Bank’s next steps – there are still doubts whether the monetary authority intends to end the Selic high cycle or carry out another increase.

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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