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After losing $ 71 billion in market value on Monday trading day, the first business day after Vale 's tragedy at Brumadinho (MG) had one morning recovery on Tuesday 29 with shares of ON up 4.11%. The paper accelerated its gains after Bradesco BBI maintained its recommendation to buy the paper, though it lowered the target price of paper by 25% to R $ 53.50, which still means a 26% reduction. at the second closing.
The badyst Rafael Pbados of Investimentos' Guide however emphasizes that the situation is still uncertain and does not exclude a weak pressure in the short term . "Yesterday's drop of nearly 25% went well beyond the loss suffered by the company during the Samarco accident (-7.0%), so it is natural that we have a Today 's correction in a day is really very excessive, "says the badyst.
The shares of the mining company, along with those of Bradespar – one of the major shareholders of Vale – account for 11.39% of the portfolio of Ibovespa. As a result, fluctuations in the company's shares also affect the outcome of the São Paulo stock exchange index.
The mining company continues to receive contrary information. In the morning, a lawsuit filed by the federal police, the prosecutor's office, the civilian and military police, determining the responsibility for the rupture of the Vale dam in Brumadinho arrested two employees of the mining company and three outsourced engineers . Previously, the company had declared contributing to the surveys.
The morning of this second day was also a turnaround of the ADR (foreign exchange shares, equivalent to the company's role) traded in New York, which exceeded 5% of the market before the sale after losses of 18%. % in the previous session and 8% on Friday.
Although the question of Vale's fines, court fees, cash-freezes and self-image remains cautious, investors also believe that the production of ore affected is small relative to the total that the company produces.
Privatizations
The shares of Eletrobrás were the main badet of the first part of the activity, Ibovespa, with an increase of 8.25% of the GNP and 6.94% GNP. after Secretary General for Privatization of the Ministry of Economy, Salim Mattar, declared that the intention of the government was first to take advantage of Eletrobrás, then to become uncontrollable .
"Eletrobrás has a number of challenges to face and privatization is not expected to materialize in 2019, but what is changing is that we have seen the government signals that capitalization should be achieved. Political interference in the management of the company makes it more efficient and generates expectations of profitability, "says Pbados, from Investimentos Guide.
Benefiting from information on privatization, Sabesp shares are also among the highest in Ibovespa, up 5.05%. At the same event, Mattar said that his goal is to exceed "by 25% to 50%" the amount that the Minister of Economy, Paulo Guedes, has said in Davos that he has the same effect. plan to raise $ 20 billion on state sales.
Luiz Roberto Monteiro, operator of the institutional table of Renascença, underlines that, even if Sabesp is under the command of the government of São Paulo, the categorical speech of Mattar is considered as positive, the governor João Doria being "very close" . to the government of Bolsonaro, "he said.
Around 12:30 pm, the Ibovespa rose by 1.23%, to reach 96,622 points.The financial turnover amounted to 4, R $ 96 billion and is expected to reach R $ 16.7 billion by the end of the session.
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