In another day of volatility in the financial market, the dollar rose slightly, but had the biggest weekly drop in a year and eight months. The stock exchange recovered 103 thousand points and reached the highest level in 50 days.
The commercial dollar ended this Friday (29) sold at R$ 5.174, up by R$ 0.011. The price had a volatile day. After starting the session low, falling to BRL 5.15 just before 10 am, but rising to BRL 5.21 around 10:20 am and slowing down for the rest of the day.
With today’s performance, the US currency closed the week with a drop of 5.9%, the biggest weekly decline since November 2020. After reaching R$ 5.499 on the 22nd, the currency closed July with a drop of 1 .16% and accumulates a low of 7.21% in 2022.
handbag
In the stock market, the day was marked by gains. The B3 Ibovespa index closed at 103,165 points, up 0.55%. The indicator even rose 1.36% around 15:45, but decelerated, with some investors selling shares to pocket recent gains.
The Brazilian stock market is at the highest level since June 10. The Ibovespa rose 4.29% on the week, with the biggest weekly gain since March last year. The indicator closed the month with an increase of 4.69%, after falling 11.5% in June.
In the foreign market, investors continued to pass on data that show the slowdown of the North American economy. Yesterday (28), it was announced that the United States entered a technical recession in the second quarter of this year, after registering two consecutive contractions in the Gross Domestic Product (GDP, sum of goods and services produced).
The slowdown in the US economy reduces pressures on the Federal Reserve (Fed, US Central Bank) to tighten monetary policy even further at upcoming meetings. Higher interest rates in advanced economies encourage capital flight from emerging countries such as Brazil. New stimulus granted by China also reduced tensions in the international market.
In the domestic scenario, the disclosure that the Petrobras profited BRL 54.3 billion in the second quarter cheered investors on Friday. The state-owned shares, which are the most traded shares on the Brazilian stock exchange, rose sharply. Common shares (with voting rights at a shareholders’ meeting) rose 6.42%. Preferred shares (with preference in the distribution of dividends) jumped 5.76%.
* With information from Reuters
