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The financial market is following the evolution of the tragedy caused by the Brumadinho Dam (MG), which can impose heavy fines on Vale, increased spending and even the risk of government interference in the management of the company
On Monday, acting president Hamilton Mourão said that there could be a change of command of the company, but he refused to say that the "beautiful share" held by the government did not allow the dismissal of the company's executive position.
This Tuesday (29), the Minister of the Civil House, Onyx Lorenzoni (DEM-RS), said that there could be an intervention if the investigation into the causes of the accident. accident revealed the bankruptcy of the company.
In a statement, XP Investimentos said that "a possible A change in the board of directors of Vale, promoted by the government, would be detrimental to society."
"A State interference in the company, through the use of the share of gold held by the Union, would demonstrate to the market that the mining company would be subject to government influences , which would not please investors, "he wrote to XP.
It is unlikely that badyst Rafael Pbados has an exchange of command now.
Vale's chairman, Fabio Schvartsman, is well regarded by the financial market and it would be difficult to find a replacement during the crisis.
"At that time, I find it difficult because no leader with good market traffic would badume." however, does not exclude the repetition of an exchange of command, as was the case at Petrobras in June of last year. When Michel Temer's government attempted to alter the state's pricing policy, Pedro Parente, then president of the company, said that this would not happen at the time of the truck drivers' stop .
He stayed there for a few weeks and resigned.
Alvaro Bandeira, Chief Economist at Modalmais, minimizes the possible intervention of the new government in the company.
"I think it's more the heat of tragedy than anything else, I do not think it's a government decision," he said.
After dropping nearly 25% the day before, Vale's shares rose slightly and helped the Brazilian stock market to return to positive territory. The dollar has fallen more than 1%.
On Tuesday, equities suffered a movement that market badysts call correction, a slight signal change after a high or low value. The shares gained 0.84% and closed at R $ 42.74, after jumping more than 4% early in the trading session.
Ibovespa grew by 0.20% and closed at 95,639 points.
On the New York Stock Exchange, Vale's stock market revenue rose nearly 2.5% after two sharp declines.
Tuesday, the main market The news was the possibility that the government intervenes in the Vale. Public pension funds are among the major shareholders of the mining company.
Abroad, the exchanges focused on the positive, despite the expectation of a new vote on the brexit in the United Kingdom as well as on the settlement of commercial disputes between the states. United States and China.
In New York, stock markets closed with no specific direction. The S & P 500 and Nasdaq indices fell and the Dow Jones index rose.
The dollar fell by more than 1% and badysts attributed this development to a flow of foreign investors at home. The currency closed the day at R $ 3.7720.
"There is an opportunism regarding the role of Vale, a hunt for bargains, we have detected a high influx of foreigners taking advantage of this moment of devaluation," said Corretora Correora's Ricardo Gomes da Silva Filho.
With Reuters
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