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The Brazilian stock market rose more than 1% on Wednesday and for the first time in history exceeded 93,000 points. The reforms announce a reform of the hardest welfare and optimism of a trade agreement between the United States and China. The dollar falls below R $ 3.70.
At 12:13 pm, Ibovespa, the main stock index of the country, gained 1.33% to 93 258 points.
Local investors are optimistic about the current state of pension reform under the Bolsonaro government, as they consider that the conditions are more comprehensive than the one mentioned in Michel Temer's mandate. Paulo Guedes, Minister of Economy, said the first bill would already include the terms of the funded pension plan.
"The focus on social welfare reform, as well as on the pursuit of more comprehensive reform, is positive and welcomed by the market, but the president has not not yet seen the proposal or hit the hammer on the issue and changes may still occur, which could to soften the proposal before sending it to Congress, "he wrote in a report to XP.
At the beginning of this Wednesday, the index is derived from the appreciation of Petrobras and Vale, as well as the roles of highway dealers, after the government announcement to study for change the auction model on the go.
Abroad, the good news is the end of the round of negotiations and the announcement soon of what has been discussed between the United States and China. Both countries are leading a trade war and the risk of new competition has left investors worried about a further slowdown in the global economy.
The eventual agreement gives rise to global stock markets. Europe has a second peak and Asian indices have also closed positively.
The dollar falls against the real, valued at R $ 3.6930. The day is favorable for emerging countries: out of 24 currencies in these countries, 18 are appreciated against the dollar. The real is the second highest appreciation of the day.
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