Monday, April 12, 2021

Ibovespa falls to 118 thousand points after Bolsonaro’s new assault on Petrobras – Prime Time Zone

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Market reacts with aversion to the announcement of changes in the state-owned company made by the president on Thursday

PixabayStock market falls with investors’ apprehension with domestic news

As expected, the market reacts with great aversion to new Jair Bolsonaro (without party) on the Petrobras. Around 12:40 pm, the Ibovespa, the main index of the Brazilian Stock Exchange, fell 0.47%, to 118,644 points, mainly driven by the shares of the state company. The preferred share (PETR4) decreased by 4.85%, while the common share (PETR3) registered a decrease of 5.84%. The previous day’s trading session closed at a fall of 0.96%, at 119,198 points. THE dollar also operated down, despite political tensions and apprehension with the resumption of emergency aid. The North American currency decreased 1.15%, to R $ 5.378. At the maximum, the currency reached R $ 5.469, while the minimum did not exceed R $ 5.369. This Thursday, 18th, the dollar ended the day with an advance of 0.47%, to R $ 5.441.

Investors have a negative impact on the president’s statements about changes in Petrobras, after the state-owned company announced new readjustments in gasoline and diesel on Thursday. In his weekly live, Bolsonaro criticized the increase and said that something will change at Petrobras in the coming days. Despite saying that he does not have control of the company, markets saw in the president’s speeches a new threat of interference in fuel prices. In an interview with Young pan, Adriano Pires Rodrigues, director of the Brazilian Infrastructure Center (CBIE), highlighted the impact of the declaration on the state-owned business. “When you say that, something can happen today, tomorrow. It is not a good speech. The market will react to this. It’s a ciphered message, and we don’t know what’s going to happen. The president is very unpredictable, so it may happen that he takes the president from Petrobras, and it may also happen that nothing happens. ”

Bolsonaro also announced changes in the federal tax on cooking gas and diesel as of March 1. According to him, after meeting with the minister Paulo Guedes and with the economic team, the federal government decided to make changes in taxes starting next month. “As of March 1, there will no longer be any federal tax on cooking gas, Eternal. There will be no federal tax on gas of kitchen, which currently averages R $ 90 at the end of the line, there for the consumer ”, he said. According to the president, in addition to LPG, diesel will also have the annulment of federal taxes starting in March. In the case of fuel, the value decrease will be valid for two months.

Still in the domestic news, investors continue to follow the negotiations for the return of emergency aid. Congressional leaders closed an agreement with the federal government to put the Proposed Emergency Constitution Amendment (PEC) to a vote next Thursday, 25. The text, which will present the clause that provides a breach for the resumption of the benefit, must be delivered to the leaders by the rapporteur, Senator Márcio Bittar (MDB-AC), this Friday. The expectation is that the PEC will proceed without major problems and be approved by March 3. According to the president of the Senate, Rodrigo Pacheco (DEM-MG), the bill will include the war budget clause that removes the responsibility of the federal government to comply with the rule of law. spending ceiling. “This approval by the Federal Senate will allow, through a war budget clause, a calamity clause, so that there may be a breach necessary to implement emergency aid in Brazil.”

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