The return of foreign investors to the Brazilian stock market and bets that
the government will turn its attention to the privatization of state-owned
companies led the Ibovespa higher for the fifth consecutive trading session on
Tuesday.
The benchmark stock market index in Brazil rose 1.19%, to 85,803.96
points, setting a fresh record closing level. Trading volume totaled R$ 12.346
billion. The index also reached a new intraday record of 86,290.32 points during
the day. "The flow was very strong and we grew apart from the foreign market.
Nobody cared about the pension reform freezing," said Terra Investimentos
analyst Christian Lupinacci, about the government's decision to give up
on voting the pension system reform for now. Petrobras' shares (+1.95%)
rose as oil prices went up. The shares of banks such as Ita? Unibanco (+4.46%)
and Bradesco (+4.04%) also performed well.
However, Ibovespa's highest
valuations in the day were of Eletrobras shares (ELET3 +6.82% privatization. For
Wednesday, investors are expecting mostly the minutes of the U.S. Federal
Reserve Bank (Fed), which may renew fears about new increases in the
country's interest rate and eventually impact the Brazilian stock
market.
The locally traded U.S. dollar rose 0.61%, quoted at R$ 3.256, near to
the highest level intraday. The greenback regained strength against other
currencies worldwide while investors remain cautious waiting for the reading of
the minutes of the Federal Reserve (Fed), that should bring clues on the next
steps of the monetary policy of the United States.
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