Ibovespa closes higher with help from Petrobras (PETR4) and rise in commodities (Image: Money Times)
O Ibovespa started the month on a high this Tuesday (1), driven by the 2.67% rise in the Petrobras (PETR4). The increase in conflicts in Middle East they caused oil to rise 3%, boosting oil companies.
The index closed up 0.51%, at 132,495.16 points.
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According to Idean Alves, financial planner and capital market specialist, commodities should continue to increase their prices on the Brazilian stock exchange.
Furthermore, the expert explained that the negative highlights of iron ore and Brent oil reversed in the last week of September, with the help of the interest rate cut in the USA and stimuli from China.
“(Commodities) seem to point upwards with warming global demand and rising prices,” he said.
In the domestic scenario, the president of Banco Central, Roberto Campos Netostated that Brazil needs to have a “positive fiscal shock to live with lower interest rates” in the medium term.
The statement is in line with Copom's stance of not lowering interest rates artificially, explains Alves.
“Normally this type of maneuver is paid for via inflation, mainly affecting the lower and middle classes of the population. That's why fixing the inspector is and will be increasingly important from a cyclical and structural point of view”, he declared.
Ibovespa ups and downs
A MRV (MRVE3) was one of the biggest highlights of today's trading session, which, in addition to benefiting from the interest curve, included an increase in the recommendation of the Bank Of America. The stock closed the day with an increase of 4.56%.
The oil companies, Brava Energia (BRAV3) e Prio (PRIO3) rose 1.87% and 2.15%, respectively.
Furthermore, mining companies, CSN Mineração (CMIN3) e Vale (ELECTION 3), which also benefited from the rise in commodities, closed at respective increases of 3.19% and 0.49%.
CMIN3 will also pay R$2.3 billion in dividends midterms and R$465 million in interest on equity
On the negative side, the Azul (AZUL4) extends the losses of the last session, closing down 4.65%. The airline runs the risk of defaulting on R$1.2 billion from the Portuguese company TAP.