On another positive day in the financial market, the stock market broke records againdespite pressure from abroad. The dollar fell again, with the prospect that interest rates in Brazil will remain high for the next few months.
The Ibovespa index, from B3, closed this Thursday (6) at 153,338 points, an increase of just 0.03%. The indicator rose 0.69% shortly before 11 am, but reversed its movement during the afternoon, recovering positive ground in the final minutes of trading.
That was the ninth consecutive record for the Brazilian stock market and the 12th consecutive high. This sequence of 12 highs had not been seen since the period between May 15 and June 2, 1997, 28 years ago.
The foreign exchange market also had a day of relief. The commercial dollar ended this Thursday selling at R$5.348, with a decrease of R$0.013 (-0.24%). The price fell to R$5.33 shortly before 11 am, reached R$5.36 shortly before 2:30 pm, but lost strength towards the end of the day.
International tensions put pressure on the Brazilian financial market, but failed to reverse the performance of the dollar and the stock market. The fall in the price of commodities (primary goods with international prices) this Thursday caused the stock market to fall momentarily, but Ibovespa managed to react, amid the release of quarterly company balance sheets.
In relation to the dollar, the price fell, mainly influenced by the tone of the statement from the Monetary Policy Committee (Copom). In the document, the Central Bank (BC) highlighted that it will maintain the economy’s basic interest rates at 15% per year for an extended period. This favored the entry of international capital, which took advantage of the large difference in interest rates between Brazil and the United States.
*With information from Reuters
