The day after the first round was held was marked by euphoria in the financial market. The dollar fell more than 4% and had the biggest daily drop since 2018. The stock exchange rose 5.5% and recorded the biggest daily gain since 2020.
The commercial dollar ended Monday (3) sold at R$ 5.174, with a fall of R$ 0.221 (-4.09%). The quotation, which had closed last Friday (30) close to R$5.40, opened at R$5.28 and fell even further during the trading session. At the lowest of the day, around 1:45 pm, it reached R$ 5.15.
This was the biggest daily drop in the US currency since June 8, 2018. At the time, the dollar dropped 5.6% after the Central Bank (BC) intervened in the exchange rate in the aftermath of the truck drivers’ strike. In 2022, the currency accumulates a fall of 7.21%.
In the stock market, the day was dominated by strong gains. The B3 Ibovespa index closed at 116,134 points, up 5.54%. It was the biggest rise for a day since April 6, 2020, when the financial market was going through strong moments of volatility at the beginning of the covid-19 pandemic.
Petrobras shares, the most traded on the stock exchange, rose sharply. Ordinary shares (voted at the shareholders’ meeting) rose 8.86%. Preferred shares (with priority in the distribution of dividends) appreciated by 7.99%.
Two factors contributed to the gains in the financial market. The first was the repercussion of the result of yesterday’s vote, which confirmed the second round between the presidential candidates Luiz Inácio Lula da Silva (PT) and Jair Bolsonaro (PL). The second was the recovery of the international market.
After successive days of decline, US stock markets closed with significant gains. The Dow Jones industrial companies index rose 2.66%. The S&P 500, one of the largest companies, gained 2.59%. The Nasdaq of technology companies rose 2.27%. Industrial activity in the United States had, in September, the lowest growth in two and a half years, which reduces pressures on the Federal Reserve (Fed, North American Central Bank) to raise interest rates beyond what was expected, favoring the actions.
*With information from Reuters
