Ibovespa ends up by Petrobras in session without Wall Street

Ibovespa closed higher on Wednesday, during a reduced liquidity session due to US vacations, with shares of Petrobras advancing by about 5% as a result of a decision by the Federal Court of Accounts that opens a space for auctioning of the expensive transfer surplus until the end of the year.

The main index of B3 shares rose 1.46% to 74.743 points, reaching the fifth trading session followed by a bullish rise, the gain over the period reaching 5.85%. The Ibovespa closed at nearly 74,904 points the highest of the day

The financial volume of the trading session however only amounted to 5.575 billion reais, against a daily average in 2018 of 11.8 billion reais, since the absence The news of business on Wall Street, due to the US Independence Day party, have emptied the trading floor.

News from domestic companies has been at the center of attention, with no major news in the economic or electoral scenario.

"The recent rally seems to indicate that investors have begun to see more attractive valuations in several Ibovespa companies," said Galt Capital shareholder Igor Lima, noting that company fundamentals have not deteriorated so intensely. price, making inventory cheaper from the multipoint point of view.

"At the highest level of Ibovespa of the year, the weight of expectations (high) was higher than that of fundamentals, but this balance seems to be reversed in favor of fundamentals, that started to be more relevant in this low price environment. "PETROBRAS PN and PETROBRAS ON grew by 5.43% and 4.86%, respectively, taking a breather in the afternoon after the TCU has decided that the new demands of the threatened to delay negotiations for a mega pre-salt auction, pre-scheduled for November 29, will only be valid from 2019. Analysts from Bradesco BBI judged the news positive, preventing bids from being postponed until 2019 But they considered that the value to which Petrobras is entitled is still unknown and should be disclosed within the next 30 to 60 days. In the Chamber of Deputies, parliamentarians also voted for the highlights of the project that allow the sale of the slice in the heavy task of Petrobras

– ELETROBRAS ON and ELETROBRAS PNB fired 17.99 and 16.61%, respectively, after approval of the House of Commons Tuesday night, an emergency regime for a project on the privatization of the company 's distributors, with badysts saying that it should be voted in this session.

– JBS appreciated 3.66 percent, having on the radar that the board of directors of the repurchase program approved by the food company up to 10 percent of the outstanding shares of the company as of August 9th. In the sector, MARFRIG advanced by 5.24%.

– EMBRAER finished up 3.73%, having shot close to 8%, renewing the intraday maximum in more than 2 years to 28 reais, amid expectations that an agreement involving a potential combination Brazilian aircraft manufacturer's activities with North American Boeing will be announced soon.

– ITAÚ UNIBANCO PN advanced by 1.62%, confirming the positive performance of Ibovespa given the appropriate participation that has in the composition of the index. BRADESCO PN, another paper with significant weight, increased by 1.4%. BANCO DO BRASIL, which announced changes to its board of directors, closed 2.87 percent.

– VALE rose only 0.15 percent in a context of declining iron ore prices in China [19659006] – KROTON fell 2.16%, the largest decline in Ibovespa, after a sharp increase in the last two trading days, when he has accumulated an appreciation of more than 14%.

– LOJAS RENNER yielded 0.5%, also among the Ibovespa senior falls. UBS lowered its price target to 34.5 reais versus 37 previously, according to a forecast badysis report for the retailer, citing weaker growth forecasts in 2018 and higher pressures on energy costs. in the first half of 2018.