Ibovespa rises 4.3% in its fourth weekly increase followed by foreign inflows and vaccines; dollar falls to R $ 5.32

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SÃO PAULO – The Ibovespa closed higher on Friday (27) and completed five consecutive trading sessions without falling. For the week, the index rose 4.27% driven by news of vaccines against the coronavirus. The prophylaxis developed by Pfizer / BioNTech, Moderna and AztraZeneca / Oxford had more than 90% effectiveness in phase 3 of tests, although today there have been news that brought questions to the latter.

This Friday, the buying momentum came from foreigners, in a tone that has marked the month of November. American investors came back optimistic about Thanksgiving Day, which kept Wall Street closed yesterday and made the trading session shorter today, ending at 3 pm ET.

The S&P 500 and Nasdaq indices had historic closing records. The S&P 500 rose 0.24% to 3,638 points and the Nasdaq advanced 0.92% to 12,205 points.

Here, the Ibovespa rose 0.32% to 110,584 points with a financial volume of R $ 27.58 billion.

Meanwhile, the commercial dollar fell 0.18% to R $ 5.3246 in the purchase and to R $ 5.3256 in the sale. During the week, the US currency depreciated by 1.12% against the real. The US dollar maturing in December registered a slight increase of 0.14% to R $ 5.344 in the after-market.

In the future interest market, the DI for January 2022 fell four basis points to 3.28%, the DI for January 2023 fell by seven base points to 4.94%, the DI for January 2025 fell 11 basis points at 6.70% and the DI for January 2027 recorded a negative change of 10 basis points at 7.50%.

Despite the day of optimism, questions to AztraZeneca hovered on the radar because the tests of its vaccine with the half dose were carried out accidentally, due to a dosage error. After the error was found, the scientists informed European authorities and changed the design of the test, which allowed the data to be considered.

On Wednesday, AstraZeneca’s executive vice president, Mene Pangalos, said, responding to criticism: “I’m not going to pretend it isn’t an interesting result, because it is – but I certainly don’t understand it, and I don’t think any of us understand it ”.

Other doubts were raised by Moncef Slaoui, chief scientific advisor to the White House task force for vaccine development. He revealed that the half dose was administered only to volunteers aged 55 and under, while the group with the full dose also included older patients, who are those most at risk for coronavirus.

Now, AstraZeneca plans to test the half-dose regimen in a new study of more than 30,000 volunteers in the United States.

Around here, the president of the Central Bank, Roberto Campos Neto, maintained the discourse that the inflationary pressure that occurs in the country is temporary. Campos Neto also said that the discussion with the Minister of Economy, Paulo Guedes, is out of date.

Last Wednesday, the BC president asked for a government plan that would demonstrate to the investor that Planalto is concerned with the growth path of the public debt, to which Guedes replied that if Campos Neto had “a plan to recover fiscal credibility I could introduce you ”. Yesterday, Guedes denied that there was any friction between him and Campos Neto.

Already during an event, the President of the Republic Jair Bolsonaro came out in defense of Guedes and said that the minister is irreplaceable. “Our Ipiranga´´ post is irreplaceable, said the president, taking up the nickname used during the campaign and showing prestige of the minister, who is criticized above all for the slowness of tax reforms.

Among the indicators, unemployment in Brazil rose to a record rate of 14.6% in the third quarter of 2020, which ended in September. The data are from the National Continuous Monthly Household Survey (PNAD Continuous), released by the Brazilian Institute of Geography and Statistics (IBGE).

Despite the high unemployment figure, the figure came below the median of economists’ expectations compiled in the Bloomberg consensus, which pointed to growth at 14.8%.

Guedes and tax reforms in Brazil

Guedes denied that there was any friction between him and Campos Neto. On Wednesday, Campos Neto said that Brazil needs to gain credibility through reforms and a plan that shows that the country is concerned about public debt.

“There comes a point where the fiscal situation is so fragile that it can generate growth in the short term, but the lack of credibility can affect that up front and generate an effect contrary to the desired, contractionary”, he said.

Asked in front of the Ministry of Economy about the comment, Guedes stated: “President Campos Neto knows what the plan is. If he has a better plan, ask him what his plan is, which plan will restore credibility ”. “Anyone who is missing a five-year plan will drop by in Argentina, Venezuela”.

Guedes stated: “It was clear to me that [a imprensa] tried to link the request for support for reforms with a criticism of me. And, sure that this connection does not exist, that Roberto was not criticizing me, he said to ask him (…) He was asking for support for reforms, precisely for Brazil to have credibility. If he asks for reforms it is because there is a plan, it is there. I was sure he was asking for support for the reforms, that’s why I told you to ask him ”.

Based on conversations with bank executives and institutional investors, the Value he says, however, that the cross-statements between Guedes and Campos Neto would have increased the wear and tear of the Minister of Economy, who has already been discredited due to the lack of progress in tax reforms.

According to the newspaper, the Minister of Economy has ceased to be faithful to the balance of the Bolsonaro government. An eventual departure from the government would no longer represent a rupture to the market, says a newspaper report, as long as the replacement has a reform agenda and fiscal responsibility.

On the other hand, during an event, Jair Bolsonaro said that the Minister of Economy is the “Ipiranga post” of the government, calling him “irreplaceable”.

Pandemic in Brazil

Brazil continues to face the acceleration of coronavirus transmission, amid questions about data related to the AstraZeneca vaccine and the University of Oxford, which until now is the federal government’s main bet to immunize the population.

The volume of hospitalized patients with covid in ICUs in the state of São Paulo grew by 22% in the comparison between Wednesday and two weeks ago. According to data from the Municipal Health Secretariat, in the capital, the Hospital da Bela Vista (central region) occupies 78% in the ICU beds (Intensive Care Unit); the Hospital Dr. José Soares Hungary (northern zone), 63%; and Tide Setúbal (east zone), 60%. The data can be used to justify new mobility restrictions in the state.

On Monday, Governor João Doria (PSDB), should announce the reclassification of the regions of the state of São Paulo according to the gravity of the covid-19, after the end of the second round of municipal elections.

According to the newspaper The state of Sao Paulo, the Covid-19 State Contingency Center is considering restoring restrictions on leisure in some regions, due to the rise in cases of covid-19, with less than a month to go before the end of the year. According to leaf, part of the technicians argues that all regions return to the yellow stage, which limits the opening hours of the trade.

Datafolha research indicates that, in the state capital, the candidate supported by Doria, Bruno Covas (PSDB), has 54% of the intentions of valid votes, and the opponent Guilherme Boulos has 46%.

In a speech held with candidates for the mayor of São Paulo on UOL and Folha de São Paulo on Thursday, the current occupant, Bruno Covas, stated: “We are not going to make an alarmist speech on the eve of the election, overestimating this data [sobre casos de coronavírus]. We are also not going to make a speech that the pandemic is over ”.

Already broadcasting on social media, President Jair Bolsonaro said he will not get a future vaccine against Covid-19 and said he believes the National Congress will not create problems for people who do not want to be vaccinated.

Corporate Radar

Oi reported that on Thursday it sold mobile phone towers and data centers at auction, which attracted few interested parties and raised about R $ 1.4 billion.

Highline do Brasil, from the North American private equity group Digital Colony, bought the tower unit for R $ 1.067 billion. The company presented the only auction offer for this asset.

Gol said it carried out its first technical flight with the Boeing 737 MAX 8 on Thursday, adding that the return of the aircraft to the company’s operation will occur progressively in the coming weeks.

The 737 MAX was suspended globally after two accidents in Indonesia and Ethiopia killed 346 people in five months in 2018-2019. Last week, the US Federal Aviation Agency (FAA) approved the return of flights with the jet, a move that was followed by Brazilian Anac on Wednesday.

The Federal Police executed search and seizure warrants on Thursday as part of a corruption investigation into the global marine fuel market, after three executives linked to Dubai’s Cockett Marine, admitted paying bribes to a Petrobras employee, court documents showed. , in the most recent development of the Lava Jato operation.

Three executives linked to Cockett Marine Oil – whose ownership is 50% split between Vitol, the world’s largest commodities trading company, and logistics company Grindrod – told prosecutors that they paid $ 2.2 million in cash to an employee of Petrobras between 2009 and 2015 to be favored in hundreds of contracts for bunkers and marine diesel with the Brazilian company, according to court records.

Higher highs

Active % Change Price R$)
EZTC3 5.99901 42.76
KLBN11 4.5929 25.05
SUZB3 4.04494 55.56
TIMS3 3.81511 14.15
BRAP4 3.13637 59.52

Higher casualties

Active % Change Price R$)
IRBR3 -3.9604 6.79
VVAR3 -3.8001 18.48
COGN3 -3.33988 4.92
CSAN3 -2.48609 82.37
CIEL3 -2.33161 3.77

SLC Agrícola signed a memorandum of understanding that establishes assumptions, terms and conditions for the company to take over the operations of Terra Santa Agro through the merger of shares, the company said in a relevant fact on Thursday.

In preparation for the intended business combination, Terra Santa intends to carry out a corporate reorganization, said SLC, adding that after the process the value attributed to Terra Santa Agro operations would be 550 million reais.

The auction of three stretches of state highways held this Thursday at B3 ended with three winning consortia, in a little disputed event, which was considered by the organizers as the second largest in the country involving roads this year.

The Via Norte Sul, Via Brasil MT and Primavera MT consortia, formed by national construction and engineering groups, were declared winners. Only one of the lots was for tiebreaker criteria, receiving an offer of 1 million reais. One of the lots had only one group presenting an offer.

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