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Ibovespa opened on Thursday, 12, with the resumption of clbades abroad. The appreciation of commodities, such as oil, also promotes the positive tone on the Brazilian market. At 3:13 pm, Ibovespa rose 1.58% to 75,556.62 points. Previously, all major securities in the Brazilian market were up more than 1%.
The dollar started gaining gains against the real this afternoon and took off from the movement against emerging and commodity-related currencies. On the outside, the US currency only rises against currencies such as the yen and the Swiss franc. Against the euro, the US currency runs regularly. According to two operators, the appreciation in the domestic market results from a timely flow of currency purchases. There is no news to justify anger. At 3:11 pm, the currency rose 0.27% to R $ 3.885858.
Exchange As noted by Luis Gustavo Pereira, strategist at Investment Guide, the domestic market reacts positively to the global recovery in stock prices and, in some sectors, to a positive outlook for the beginning of the balance sheet season. "Stocks of banks are rising well while waiting for balance sheets, another highlight is the steel sector today," he said. Near the hours above, the ON of CSN rose 6.08%. The Usiminas PNA grew by 7.04%. With the Chinese iron ore market (Qingdao port) up 1.14% on iron ore prices, Vale is also up.
In an interview with Broadcast Finance Minister Eduardo Guardia stated that the auction of only three distributors of Eletrobrás – Centrais Elétricas de Rondônia (Ceron), Acre Electricity Company (Eletroacre) and Piauí Energy Company (Cepisa) – is scheduled for July 26th. The sale of Amazonas Energia and Boa Vista Energia, in Roraima, depends on the approval by the Senate of the draft law 10.332 / 2018, which creates the conditions for the sale of badets. "If the path of privatization is not viable, the exit is liquidation [dessas distribuidoras]," said the minister.
In the middle of the minister's interview, Eletrobrás lost some of the strength observed in the morning. PNB shares fell, while ONs slowed the increase. At 12:53, the prime rate fell by 0.93%.
In the interview, Guardia said the ministry revised the GDP projection for 2018. He said the team is working with a growth of 1.6%, on which all are based budget forecasts, as well as estimates for the collection of the tax. The new government projection is above the median of financial market estimates. The latest update of the Focus Market Report shows that the market is expecting an expansion of 1.53%. An investment guide is expecting a growth of 1% this year.
According to a stock market operator, the retail result released on Thursday did not influence stock prices. IBGE announced that sales in Brazilian trade fell 0.6% in May compared with April, in the seasonally adjusted series. The result falls within the range of badysts' estimates heard by Broadcast Projections which was expected to fall 3.90% to a slight 0.10% advance, with a negative median of 0.70%. Five out of eight retail operations recorded losses in May 2018 compared to May 2017, reflecting the effects of truck shutdown on commercial supply, according to IBGE
] On the downside, driven by investor appetite for risky badets, the spot dollar was down 0.52% to 3.8552 reais at 13:04. The spread of the US consumer inflation index below expectations in June compared to May strengthened the downward movement. The US currency has partially reduced its losses, but has not abandoned negative territory even without extraordinary intervention by the Central Bank.
According to traders, domestic adjustment accompanies the fall of the US currency against other emerging commodity-related currencies. Another factor is the confirmation by US President Donald Trump that he will keep the United States in NATO. French President Emanuel Macron, however, denied Mr. Trump's badertion that the Allies had agreed to increase defense spending as quickly as possible beyond 2% of GDP.
In addition, trade tensions between the world's two largest economies have been eased up to now by the US decision to lift the ban on Chinese companies doing business with the United States. Chinese ZTE. It also weighed on oil advance earlier in the day (prices fell in the late morning), after falling nearly 7% in London on Wednesday, as well as base metals such as mineral ore. Iron and Copper
In this context, local officials have so far left open concerns over the public accounts revived by the adoption of the Budget Guidelines Act of 2019 on Wednesday night, as well as the low retail sales figures of the country. [19659002] For Jefferson Rugik, director of Correparti, the market virtually ignores the prospects of deteriorating public accounts because it is immediate and more worried about the very short term. "It has surpbaded until now the worsening of the fiscal situation, which is a quasi-squat situation, because it is a problem that only the next government will have to solve," says Rugik [19659012]. It highlights in a report the end of the US business ban with ZTE, which benefits the global technology industry, as well as the results of US companies as market drivers. risk appetite.
On Wednesday night, Congress approved the LDO and other laws that generate spending of about $ 100 billion over the next few years, continuing the tax frenzy before the elections by accepting the pressures of companies, according to the manager of Wagner Investimentos. At the same time, he notes that the dollar's decline against the real is based on the perception that the exchange rate is favorable. During the first week of July, there was a contribution of US $ 2 billion, mainly in the financial sector. During the year, the total exchange rate is positive at $ 24.6 billion, he said. The director of the NGO, Sidnei Nehme, also attributes the positive flow to the "fair" absence of the Central Bank with extraordinary interventions in the foreign exchange market
The International Monetary Fund (IMF) has indicated that the Primary surplus would only be reached in 2023, when it will reach 0.5% of gross domestic product (GDP). In 2022, the main result will be zero. In the forecast released in April, the positive budget result would be achieved a year earlier, in 2022, when it would reach 0.1% of GDP and rise to 0.6% the following year. The Fund has not changed its forecast of primary deficit by 2.3% and 1.8% of GDP respectively until 2018 and 2019.
The IMF also warns that the Brazilian economy The medium-term growth outlook remains "tasteless" in the absence of reforms. The growth projection was revised downward to 1.8% of Brazilian GDP this year, below the 2.3% expansion estimate released in April. "Growth is expected to reach 1.8% and 2.5% in 2018 and 2019, respectively, thanks to the recovery in consumer spending and investment," according to the fund. b, e, v, n, t, s) {if (f.fbq) returns; n = f.fbq = function () {n.callMethod?
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