© Reuters. .
By Peter Frontini
SÃO PAULO (Reuters) – The main index of the São Paulo stock exchange was operating higher on Monday morning, with the performance of the banking sector’s roles supporting the movement, in addition to greater optimism from global investors.
At 11:25, the price rose 0.9% to 97,867.74 points. The financial volume amounted to 6.2 billion reais.
Bank stocks dictated the movement of several international markets earlier this week, along with a broader rise in companies in sectors badly hit by the pandemic.
“The financial sector was one of the most impacted in the last 40 days due to the worsening of the perception of risk. It is natural to see a much stronger recovery,” said Fábio Galdino, head of variable income at Vero Investimentos.
“But you look at the political aspect, the new phase of tax reform, this open discussion between the government and Congress about a new CPMF, it helps to slightly improve the perception of risk in relation to indebtedness, in relation to our fiscal risk” , said.
This morning, President Jair Bolsonaro has a meeting with ministers and parliamentary leaders to finalize a proposal for the new stage of tax reform and Citizen Income, a replacement program for Bolsa Família, and the measures should be sent to the Legislature on Tuesday, he told Reuters the government leader in Congress, senator Eduardo Gomes.
The positive market movement was also supported by optimism with an economic recovery after news that the results of China’s industrial companies grew for the fourth consecutive month in August, driven in part by a recovery in commodity prices, said the statistics agency of the country on Sunday.
– SANTANDER BR UNT was up 5.2%, as the highest increase in the index. Endorsing the movement, ITAÚ UNIBANCO PN was up 3.2% and BRADESCO PN (SA 🙂 was up 3.3%.
– GOL (SA 🙂 PN gained 4%, with the travel sector also having a very positive day. AZUL PN (SA 🙂 was up 4.1% and CVC (SA 🙂 BRASIL was up 3.6%.
– PETROBRAS PN (SA 🙂 was up 1.6%. The company prepaid the total outstanding balance of its dollar-denominated committed credit lines, in the amount of US $ 2 billion.
– JBS ON (SA 🙂 was on the negative side with a drop of 1.8%. Other companies in the sector followed the same line, MAFRIG ON lost 1.5%, while MINERVA ON (SA 🙂 decreased 1.3%.
– MELNICK ON operated stable after debuting in a fall on B3). The construction company priced its IPO at R $ 8.50 per share on Thursday, raising R $ 713.6 million.