May 22, 2022

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The Sao Paulo stock market follows Wall Street and rebounds by 1.70%

This content was published on May 04, 2022 – 20:54

São Paulo, May 4 (EFE). – The stock market in Sao Paulo followed Wall Street and advanced 1.70% this Wednesday, after the United States Federal Reserve, for the time being, ruled out a 0.75% rate hike.

Ibovespa, the benchmark benchmark for parquet, closed at 108,343 points and recovered from a slight 0.10% decline on Tuesday, amid caution due to decisions by the US and Brazilian issuers, which will also evaluate its monetary policy. today.

In the foreign exchange market, the US dollar depreciated by 1.26% in Brazil and ended up trading at 4,899 reais to buy and 4,900 reais to sell at the Brazilian commercial exchange rate.

The Sao Paulo group moved through most of the session on losses, but changed the signal when Federal Reserve Chairman Jerome Powell emphasized that they were not considering, for the time being, a 0.75 or one full point increase.

The Federal Reserve today announced a half-point rate hike, in an effort to contain rising inflation in North American strength.

With this increase, the highest since 2000, the official interest rate for the US economy is in the range of 0.75% to 1%.

Powell’s restraint was well received by financial agents, particularly on Wall Street, which also helped lift the Brazilian market sentiment.

In all, the Sao Paulo stock market, which just crashed 10% in April, today added 1,815 units to its accumulated scores, according to preliminary results.

The business volume exceeded 27 thousand million riyals (about 5,500 million dollars), in nearly four million financial transactions.

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The stocks most valued were those of supermarket network Pao de Açucar (+7.5%) and retail company Americanas (+7.5%), as well as oil companies Petrobras (+6.0%) and PetroRio (+5.8%). .

Conversely, among the biggest losses were the meat titles Marfrig (-7.8%) and JBS (-3.0%).

The most traded notes of the day were the preferred notes of state-owned Petrobras (+6.0%) and the common stock of mining giant Vale (-0.8%). EFE

cm / siva

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