Ibovespa rises 0.92%, to 98.8 thousand points, down 3.09% in the week
After having converged to July levels, this Friday’s slight rebound was insufficient to prevent the B3 (BVMF:) reference from accumulating losses for the fifth consecutive week, a negative series in extension not seen since last April, when the retreat extended to the first week of May – at the time, however, the Ibovespa was at a much higher level, at 121.5 thousand points, in the first session of that April. Considering the beginning of the most recent sequence of losses on Ash Wednesday (February 22), the retraction of the Ibovespa exceeds 10 thousand points, having as reference the pre-carnival closing, at 109,176.92 points.
Today, the Ibovespa touched the level of 99,000 points, at 99,258.43 at the session’s maximum, and closed up 0.92%, at 98,829.27 points, leaving the low at 97,687.66 and opening at 97,926, 14. For the week, the index lost 3.09%, coming from losses of 1.58%, 0.24%, 1.83% and 3.09% in previous intervals. In the month, it retreats 5.82% and, in the year, it drops 9.94%. This Friday’s turnover dropped to BRL 20.4 billion, after having shown a moderate recovery in the previous session. In New York, the stock exchanges operated low for most of the day, but managed to firm up slightly after mid-afternoon, showing gains between 0.31% () and 0.56% () at closing.
Having reached the 96,000 point range yesterday in the intraday, and having accumulated losses in the year of more than 10% at the close of Thursday, investors parsimoniously sought discounts on the B3, which favored most top stocks in this technical recovery, with the exception of Vale (BVMF:) (ON -1.14%) and Petrobras (BVMF:). Among blue chips, banks showed gains of over 1% at the end of the day, with Bradesco ON (BVMF:) (+1.42%) leading the way. Petrobras ON (BVMF:) (+0.35%) and PN (-0.04%) closed without a single direction, on a negative day for London and New York.
At the top of the Ibovespa, highlights this Friday for BRF (BVMF:) (+11.35%), Yduqs (BVMF:) (+10.38%) and Hapvida (BVMF:) (+8.70%). On the opposite side, Cogna (BVMF:) (-8.87%), Locaweb (BVMF:) (-8.02%) and Assaí (BVMF:) (-1.97%).
“Outside, the stock exchanges had, in most cases, a negative performance in the session, returning to reflect fears about the global financial crisis. Deutsche Bank’s CDS reached a maximum in four years, and the bank’s shares fell more than 10% in Frankfurt. In Europe, there were also negative readings on PMI, showing weakness of the industry in the continent. Here, this perception of risk abroad contributes to limit the recovery of the Ibovespa. which helped in the recovery of the shares of some companies linked to the economic cycle”, says Gustavo Harada, head of the equity desk at Blackbird Investimentos.
“In the last 12 months, the IPCA-15 has accumulated a high of 5.36%”, in deceleration, observes in a note Gustavo Sung, chief economist at Suno Research. “When we look at the average of the cores, they cooled down from February to March. In addition, the diffusion index, which shows the percentage of items that increased in price in the month, fell from 67.03% to 61.31%. Both are positive signs”, adds the economist.
Despite the uncertainties in the domestic environment and the worsening perception of global credit risk, financial market optimism about the performance of stocks in Brazil gained strength in this Friday’s Broadcast Stock Market Thermometer. Among the participants, 75.00% said that the next week should be high for the Ibovespa, compared to 50.00% in the previous Thermometer. At the same time, the expected fall, before at 33.33%, is now at 12.50%. Those who expect stability also represent 12.50% of the total, below the 16.67% of last Friday’s survey.