Ibovespa retreats with risk aversion and accumulates a fall of 1.49% per year; dollar rises

The Brazilian stock market closed lower on Monday (9), amid fears of an economic slowdown in China and an intensification of monetary tightening in the US.

China’s foreign trade numbers slowed in April, which reiterated the scenario that the world’s second largest economy is suffering from the consequences of the Covid zero policy adopted by the authorities.

Commodity prices closed sharply lower with the prospect of a slowdown in the Chinese economy, the main importer of raw materials in the world. This led to a sharp drop in the shares of Vale (VALE3) and Petrobras (PETR3;PETR4).

The Ibovespa dropped 1.79%, to 103,250 points, after oscillating between 102,768 and 105,109 points. The financial volume was R$ 33.5 billion. With today’s drop, the index accumulates a loss of 1.49% throughout this year.

The shares of JHSF (JHSF3) and BTG (BPAC11) were positive highlights and rose, respectively, 4.11% and 3.61%, followed by shares of BRF (BRFS3), with a gain of 2.75%.

BTG shares rose after the release of their respective balance sheets.

The shares of Locaweb (LWSA3) and Petz (PETZ3) were the negative highlights of the session, retreating, respectively, 14.44% and 10.88%, followed by the shares of Magazine Luiza (MGLU3), with losses of 9.07 %.

Technology and consumer stocks retreated with the rise in future interest rates and the dollar.

The dollar rose again – reaching the highest level in almost 2 months – reflecting the aversion to risk in global markets and the outflow of foreign capital from the country. The American currency rose 1.60% to R$5,156 after fluctuating between R$5,102 and R$5,160.

For Alexandre Brito, partner and manager of Finacap Investimentos, the departure of foreign investors has weighed on the Brazilian stock exchange and led to the appreciation of the dollar.

At the aftermarket, at 5:06 pm, future interest fell: DIF23, -0.34 pp, to 13.30%; DIF25, -0.80 pp, at 12.44%; DIF27, -0.44 pp, at 12.32%; DIF29, -0.16 pp, at 12.43%.

On Wall Street, stocks retreated sharply, leading the S&P 500 to miss the 4,000 level for the first time in more than a year as the sell-off continued. All sectors, except for basic consumption, closed in the red.

The Dow Jones index fell 1.99% to 32,245 points. The S&P 500 is down 3.20% to 3,991 points, while the Nasdaq is down 4.29% to 11,623 points.

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