© Reuters. .
Por Paula Arend Laier
SAO PAULO (Reuters) – The closed at a slight drop on Thursday, with the rise in shares of JBS and steel companies CSN and Usiminas helping to mitigate the negative bias abroad, amid fears about the economic recovery.
A reference in the Brazilian stock market, the index had a negative variation of 0.28%, at 99,054.06 points. At minimum, it reached 97,778.26 points. At the maximum, it rose to 99,485.50 points.
The financial volume of the session totaled 23.6 billion reais.
Wall Street also moved away from session lows, with the S&P 500 closing down 0.15%.
An unexpected increase in weekly claims for unemployment benefits in the United States reinforced concerns about the resumption of that economy, in a context of lesser hope for fiscal stimulus in the short term.
U.S. President Donald Trump has said he is willing to increase the aid package to reach a deal with Democrats, but the idea was rejected by his Republican colleague, Senate majority leader Mitch McConnell.
In addition to the uncertain picture about new stimuli in the US, variable income analyst at Clear Corretora Rafael Ribeiro also highlighted the restrictions imposed by European governments to curb the spread of coronavirus cases.
According to him, this risk component was outside the market’s radar “and undoubtedly generates uncertainties because it can halt the economic recovery that has just started”.
In Brazil, the IBC-Br showed growth in economic activity in August for the fourth consecutive month in the monthly comparison, but decelerated in relation to July and was below expectations.
For the chief strategist of the digital modal bank more, Felipe Sichel, the perspectives of the IBC-Br for September are positive, but he stressed the existence of risks of the scenario around the reduction of the emergency aid and the fiscal question.
Professionals in the variable income area also cited as a factor for the improvement of the stock exchange statements by the Minister of Economy that, eventually, he may give up the idea of creating a new digitally based tax.
To CNN Brasil, Paulo Guedes also stressed that the government’s tax reform proposal, which already had the first part sent to Congress, does not include a tax increase.
– JBS ON (SA 🙂 rose 4.28%, following an agreement by its parent company with the US court, which helps pave the way for JBS ‘plans to go public on its international operations in the USA.
– CSN ON (SA 🙂 increased 5.71%, before the balance expected after the market closed. USIMINAS PNA (SA 🙂 closed with an increase of 6.06%. According to analysts at BTG Pactual (SA 🙂 the two companies are announcing another flat steel price increase to distributors for November.
– VALE ON (SA 🙂 lost 0.84%, disagreeing with the mining and steel sector, contaminated by the most negative bias in global markets.
– PETROBRAS PN (SA 🙂 e PETROBRAS ON (SA 🙂 both decreased 1.1%, in a session of oil weakness abroad, where it closed down 0.37%. The company also announced a cut in gasoline prices.
– ITAÚ UNIBANCO PN fell 0.89% and BRADESCO PN (SA 🙂 yielded 0.67%. BANCO DO BRASIL (SA 🙂 took off from the index’s banks and rose 0.68%.
– PETRORIO ON closed down 5.6%, amid adjustments, after shooting 8% the day before.