Wednesday, April 14, 2021

Ibovespa keeps high and exceeds 118 thousand points with euphoria in global markets – Prime Time Zone

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The main indicator of the Brazilian Stock Exchange achieved the best performance since the high of the year registered in January; dollar drops to R $ 5.07

Rogério de Santis / Futura Press / Estadão Contents Ibovespa renewed January high this Thursday by closing above 118 thousand points

A Brazilian Stock Exchange followed the euphoric climate of the global markets and registered the fourth consecutive high this Thursday, 17th. Ibovespa, B3’s main index, closed the session with an increase of 0.46%, to 118,400 points. This is the best performance since the maximum of 119,527 points reached on January 23. The stock market reached close to 119 thousand points, driven by the expectation of vaccination against the new coronavirus in the European Union on the 27th, and still echoing the announcements made by the Central Bank of the United States (Fed) in the previous day. The national market comes in a positive sequence, and this Wednesday, 16, closed above 117 thousand points. The external scenario also impacted the devaluation of the dollar. The US currency closed the day with a decrease of 0.53%, to R $ 5.078. The currency reached the minimum of R $ 5.042, while the maximum did not exceed R $ 5.087. On the eve, the dollar closed with an increase of 0.34%, to R $ 5.106.

A European Union announced that vaccination against Covid-19 will begin in the next 27, 28 and 29 in all countries that make up the bloc. “Delivery will start on the 26th, and then each state needs to organize itself. The important thing is that it is a coordinated effort. It is absolutely normal that there is a little space to launch the vaccination ”, explained the spokesperson of the European Commission, Eric Mamer, this Thursday. The report was given before the approval of the immunizing agent developed by Pfizer in partnership with BioNTech by the European Medicines Agency (EMA), which is due to take place on the 21st. Saudi Arabia also announced today that it has already started immunizing its population with the Pfizer / BioNTech vaccine. Investors also echo the Fed’s decision to keep the basic interest rate close to zero, as expected. The monetary authority also resumed its commitment to keep interest rates low until the economy is heated up again, and said it will continue to inject money to mitigate the effects of the new coronavirus. Still on the international stage, the markets are awaiting the approval of the fiscal package above US $ 900 billion by the North American Congress this year. The agreement is expected to be signed by Democrats and Republicans after weeks of expectations and setbacks in the negotiations.

In the domestic news, O Banco Central (BC) reviewed the outlook for falling Gross Domestic Product (GDP) in 2020 to 4.4%, according to the fourth quarter Inflation Report. In the previous edition, published in September, the monetary authority predicted a 5% drop. The projection for 2021 was slightly downgraded to growth of 3.8%, compared to 3.9% previously estimated. The revision for the expectation of economic growth in the next year is justified by the continuity of the uncertainties brought by the new coronavirus pandemic and what are the impacts of the stoppage of activities. THE structural reform agenda and the necessary adjustments in the Brazilian economy were also taken into account for the downturn. The monetary authority also changed the projection for the Broad Consumer Price Index (IPCA), official indicator of Brazilian inflation, to advance 4.1%. In the September report, growth was projected at 2.1%.

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