On a day of relief in the financial market, the dollar fell sharply and closed below R$ 5.40, after statements by ministers that the current government will not review reforms and economic measures taken in the previous administration. The stock market rose more than 2% and approached 108 thousand points.
The commercial dollar ended this Thursday (5) sold at R$ 5.352, with a decrease of R$ 0.10 (-1.85%). The quotation operated downwards throughout the session, until closing at the low of the day.
In the stock market, the day was marked by gains. The B3 Ibovespa index closed at 107,641 points, up 2.19%. The indicator came to operate close to stability at the beginning of trading, but started to shoot up during the morning.
The highlights were Petrobras shares, the most traded on the stock exchange. Ordinary shares (with voting rights at shareholders’ meetings) increased by 3.24%. Preferred shares (with priority in the distribution of dividends) jumped 3.6%.
Investors continued to react to declarations made yesterday (4th) by the chief minister of the Civil House, Rui Costa, that a possible review of the pension reform is not being studied by the government. In addition, Senator Jean Paul Prates (PT-RN) ruled out a policy of direct intervention in fuel prices, which helped Petrobras’ actions. At the end of the afternoon, the Minister of Labor, Luiz Marinho, withdrew from the idea of extinguishing the anniversary withdrawal from the Severance Indemnity Fund (FGTS).
The Brazilian market acted against the grain of the foreign market, where the dollar rose after employment data in the United States. Last month, the largest economy on the planet created more jobs than expected, which raised fears that the Federal Reserve (Fed, US Central Bank) will keep interest rates high longer than expected. High rates in advanced economies encourage capital flight from emerging countries such as Brazil.
*With information from Reuters
