2023-08-18 22:56:23
By Paula Arend Laier
SAO PAULO (Reuters) – The Ibovespa closed with a positive sign for the first time in August this Friday, breaking a historic sequence of 13 low trading sessions, but the rise was modest, as uncertainties remain about global growth in the coming quarters .
Reference index of the Brazilian stock market, the Ibovespa rose 0.37%, to 115,408.52 points, but still accounting for a loss of 2.25% in the week.
This Friday’s financial volume totaled 21.6 billion reais, below the daily average for the year, which is 25.8 billion reais, despite the expiration of stock options in this session.
The day before, the Ibovespa had spiked 13 trading sessions in a row, closing in decline, accumulating a decline of 5.36% in the period. The correction occurred after four months of increases until the end of July, when it rose by almost 20%, and was accompanied by the departure of foreigners.
Until the 16th, the external capital balance in the secondary Brazilian stock market was negative by 8.6 billion reais in August, reversing the movement of June and July, when purchases surpassed sales by a total of 17.2 billion reais of reais.
In the view of Ace Capital’s partner and stock manager, Tiago Cunha, the movement of the Brazilian stock market is not due to domestic factors and is aligned with the international macro movement.
“The increase in long-term interest rates in the United States and the fear of a slowdown in China are pointed out as the main reasons for the performance, not only of the Brazilian stock exchange, but also of most stock exchanges in the world,” he said.
He attributed this Friday’s rise to a more technical move, also highlighting the low volume, which allows not-so-big flows to influence the direction of business.
On Wall Street, the S&P 500 ended nearly flat, but has racked up a more than 2% decline for the week, amid a repricing of bets on the Federal Reserve continuing to raise interest rates, or keeping rates at high levels.
The perception that the monetary stimuli recently announced by the Chinese central bank will not be enough to revive the domestic economy and the lack of announcement of new measures have also corroborated the cautious bias.
HIGHLIGHTS
– MAGAZINE LUIZA ON advanced 6.38%, at 3 reais, in a positive day for the retail sector as a whole. In the food segment, the highlight was CARREFOUR ON, which closed up 5.24%. Among apparel networks, GRUPO SOMA ON rose 1.95%. Still, PETZ ON gained 3.91%.
– BTG PACTUAL UNIT rose 1.49%, to 30.7 reais, leading to recovery among banks on the Ibovespa, after a more negative session for most on the eve. ITAÚ UNIBANCO PN closed with an increase of 0.79% and BRADESCO PN increased by 0.66%. BANCO DO BRASIL ON, which appreciated on Thursday, gained 0.4%.
– B3 ON closed with an increase of 1.71%, at 13.66 reais, also recovering after a sequence of 10 falls, in which it lost almost 10%, and only on the eve the share fell 2.75%. Earlier, it even retreated to 13.29 reais, marking an intraday low since the beginning of June.
– PETROBRAS PN rose 0.25%, to 31.52 reais, as oil prices also firmed up, with Brent ending the session traded at a high of 0.81%, to 84.80 dollars a barrel.
– VALE ON fell 1.11%, to 61.22 reais, accounting for a relevant negative counterbalance, even with the rise in iron ore prices in China. The most traded contract on the Dalian Commodity Exchange rose 2.94% to 771.5 yuan ($105.87) a tonne.
– WEG ON retreated 1.76%, to 36.26 reais, also weighing and marking the sixth drop in seven trading sessions. Analysts at XP Investimentos this week cut the stock’s recommendation to “neutral”, citing expectations of a revenue slowdown and returns settling at lower levels in the coming years, while seeing the shares priced correctly.
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