World News 

Ibovespa ignores the outside and closes higher with commodities

Photo: B3

The Brazilian stock exchange closed the trading session this Wednesday with a gain of 0.83% in the Ibovespa, the main stock index B3. Advances in overseas commodities dragged the two giants of the national market, Petrobras and Vale, whose shares were valued at 3.76% and 1.54%. In addition to them, the price of Suzano, the world’s largest pulp producer, also increased, closing by +2.56%.

The largest increase in raw materials was due to oil, which responded positively to the announcement by OPEC+ (Organization of the Petroleum Exporting Countries and Allies) to reduce fuel production by 2 million barrels per day. Before the Brazilian stock market closed, iron ore had rallied slightly, nearing stability. Pulp rose 1.81% in the session.

Despite the upbeat sentiment in the equity market, the local yield curve opened modestly across all maturities over the nine-month period, meaning interest rates were slightly higher than expected in yesterday’s session. The move followed the opening of US exchange rates.

In the US, the S&P 500 fell 0.20%, led by the Utilities sector (sanitation and power companies). On the positive side, the energy sector followed oil’s rise and grew by 2.06%.

Finally, the dollar gained 0.35% against the real, which is quoted at R$5.20.

More news

Related posts

Leave a Comment