© Reuters. .
By Peter Frontini
SAO PAULO (Reuters) – The retreated on Friday, reflecting the negative movement of global assets the day before, a day when the Brazilian stock market did not open due to the Corpus Christi holiday, in addition to a profit realization after the recent rally of the actions.
With the fall, the index closed again a week in the red, after rising in the last three weeks, a period in which it accumulated a 22% increase.
The Ibovespa fell 2% to 92,795.27 points. The financial volume of the session totaled R $ 35.5 billion. The index ended the week with a fall of 1.95%.
The session was quite volatile, with investors trying to find reference prices, since B3 was closed the day before, when the Wall Street indices had the biggest daily volume since March, amid fears of a second wave of Covi-19 in the United States.
As the exchanges showed a reaction on Friday, the losses here were limited, but they slipped further when the North American indices came to trade in the red. At the worst moment, the Ibovespa dropped more than 4%. In the end, New York’s top three indices rose, with the S&P 500 advancing 1.3%.
For Daniela Casabona, a partner at FB Wealth, the expectation was for a more pronounced drop here, but given the correction of the American stock exchanges, “the Ibovespa managed to contain a greater panic, so in a way the holiday favored our market.”
Fears about the resumption of the economy after the impact of the pandemic are being tempered by “optimism arising from the certainty that central banks and governments will continue to support financial and stock markets,” said Pedro Paulo Silveira, chief economist at Nova Futura Investimentos.
A Reuters poll pointed out that Brazil’s basic interest rate is expected to fall to a minimum of 2.25% per year next Wednesday, with the BC expanding the emergency effort to reinvigorate the economy.
The country’s economic recovery after the pandemic should be slower than previously expected, said Terra Investimentos strategist Marco Harbich.
“Contrary to market expectations, the recovery of the economy will not be in ‘V’, it will continue to be very slow as of the fourth quarter of this year,” he said, adding that he predicts a 6.3% drop in Brazil’s GDP this year.
– PETROBRAS ON (SA 🙂 and PETROBRAS PN (SA 🙂 declined 3.54% and 3.74%, respectively, in the wake of the drop in the price of the future oil contract the day before, with a slight recovery this Friday.
– ITAÚ UNIBANCO PN lost 1.99%. BRADESCO PN (SA 🙂 fell 1.14% and SANTANDER BR fell 1.35%.
– BR DISTRIBUIDORA gained 0.09%. The company reported on Wednesday night net income of 234 million reais in the first quarter, down 50.9% compared to the same period last year.
– CVC (SA 🙂 BRASIL ON collapsed 9.44%, in line with other travel companies, such as GOL (SA 🙂 PN, which fell 8.4% and AZUL PN (SA :), which lost 5.87 %.
– MINERVA ON (SA 🙂 advanced 2.35%, one of the few positive highlights of the index, such as MARFRIG ON (SA :), which gained 2.22%. Also in the sector, JBS ON (SA 🙂 decreased 0.5%.