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December 22, 2022
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Stock market rises for the third day in anticipation of the Transition PEC

Stock market rises 2.12% and recovers 100 thousand points

Amid expectations for the second-round vote on the Proposed Amendment to the Constitution (PEC) for the Transition, the stock market rose for the third day in a row. The dollar was flat after fluctuating throughout the day.

The B3 Ibovespa index closed at 107,433 points, up 0.53%. Despite the attention paid to the PEC, the indicator benefited from oil and mining stocks, which rose with the recovery of commodities in the international market. The stock is at the highest level since the last day 7.

The foreign exchange market had a day of waiting. The commercial dollar closed this Wednesday (21) sold at R$5.203, down by just 0.07%. The price started the day stable, dropped to R$5.16 around 10:30 am and operated between R$5.18 and R$5.21 from the end of the morning.

With today’s performance, the US currency zeroed the high in December. The currency accumulates a drop of 6.69% in 2022.

Still reflecting the approval of the PEC in the first round, yesterday (20) night by the Chamber of Deputies, investors were waiting for the voting in the second round, which was only concluded after the closing of the market. The US currency fluctuated throughout the day, still reflecting the reduction in the validity of the proposal to one year.

The PEC vote helped to take off the dollar against the international market. Abroad, the currency operated at a slight increase against the main currencies of the planet, in the absence of news about the Federal Reserve’s (Fed, North American Central Bank) action on basic interest rates in the United States in 2023.

*With information from ReutersStock market rises for the third day in anticipation of the Transition PEC

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