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SÃO PAULO – L'Ibovespa renewed its historic maxim Wednesday (23), taking off from the hot day of Wall Street and motivated by the statements of Jair Bolsonaro and the Minister of Finance. Paulo Guedes Economy in Davos. Despite the strong repercussions, the market was not impacted by the cancellation of the press conference during the event .
Ibovespa closed with an increase of 1.53% to 96,558 points, thus renewing its historic maximum. The financial volume amounted to R $ 14.428 billion. Dollar futures maturing in February fell 1.44% to R $ 3 764, while the commercial dollar closed with losses of 1.11% to R $ 3.7633 at record lows. of the day.
The market reflects President Jair Bolsonaro's most incisive tone on pension reform in an interview with Bloomberg, in addition to Paulo Guedes' speech on JCP taxation and dividends
Bolsonaro promised to reform the pension plan by adopting the minimum age and stating that the change will be substantial. He also stated that the situation of the states hints at the approval of the reform, which interests the governors. Asked about the involvement of the army, the president said that the pension system of the armed forces would enter "only a second part of the reform".
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It should also be mentioned that Bolsonaro, who would pursue his agenda in Davos, canceled a press conference with the Minister of Economy, Paulo Guedes, and the Minister of Justice and Public Security , Sérgio Moro, at 13h (Brasilia time).
Also in Davos, Paulo Guedes declared, as part of a closed lunch proposed by Itaú, that the government wanted to simplify taxation and reduce corporate income taxation from 34% to 15%, while He intends to tax dividends and interest on capital. This change may have a negative impact on several shares such as electricity, banks and other sectors, but it has not yet had a reaction in the market.
Since the Bolsonaro campaign, the question of taxation of dividends has arisen. Novelty refers to JCP – another format for distributing profits to shareholders, in which income tax is currently levied directly at source.
Guedes also helped boost the stock market during the last part of the trading session, after stating, to an interview with Bloomberg that will reduce the 2019 budget deficit and that the government plans to raise 20 billions of dollars with privatizations this year alone, about $ 75 billion. Therefore, the sustainability of the budget balance will depend on the approval of other reforms, according to the minister.
The priority is social welfare reform, including the transition to a capitalization system. "We have a big tax hole, we have an outdated system, the old system is already down, we have to repair the old and create a new one."
Guedes also intends to reduce subsidies in the future, but he knows that this initiative will require more time, must be approved by the National Congress. Today, government subsidies rise to $ 100 billion.
Decline in future interest rates
With respect to the downward movement of IDs, contracts maturing in January 2021 declined by 11 basis points to 7.20%, while that future interest rates for January 2023 fell by 13 points to 8.30%. Investors reflected the IPCA-15, which was 0.30% in January
Yesterday afternoon, the contracts were impacted by the interview of the head of the central bank, Ilan Goldfajn, with Reuters, who stressed that the central bank will always check if interest rates are stimulating. around 4 pm, the speech interpreting the market is dovish, because for the monetary policy to become more stimulating, it would be necessary that the Selic falls.
Later, the CB said in a clarifying note that "the political message The monetary authority has not changed since the last meeting of the Copom."
Foreign Market
The speeches by the Director of the National Economic Council of the White House, Larry Kudlow, received a lot of attention. who denied that the United States would have rejected China's offer of agreement. According to him, there was no other meeting scheduled outside the visit of Vice Premier Liu He of China next week.
Asian equity markets have moved closer to stability after China committed today to increase its budget spending this year, focusing on reducing the small business tax burden. boost its economy, which had recorded the strongest growth last year since 1990.
In 2018, the Chinese government's budget expenditures jumped 8.7% to 22.09. ($ 3.26 billion), while revenues grew 6.2 percent to 18 trillion yuan, according to data from the Chinese Ministry of Finance.
High and low of the market
In addition to the rise of Petrobras and Vale, the session is animated for almost all shares of Ibovespa, which record a session of results.
One of High's strengths is Sabesp. São Paulo's finance secretary, Henrique Meirelles, said the state would use public resources to meet the budget this year. João Doria (PSDB), flag of the governor of São Paulo, the privatization program could contribute significantly to the budget compliance by the state in 2019.
The capitalization of Sabesp, estimated at 5 billion rubles, as well as the $ 6 billion contingency of budget resources would help the state to cover $ 10 billion of revenue deemed uncertain.
At the same time, the FRB picks up after the 5% drop and increases by about 2%. The company said that Saudi Arabia's restrictions on Brazilian factories on Brazilian factories would only concern exports from the Lajeado factory, which exported about 6,500 tons per month to the Arab country
]
The company has already made the necessary adjustments in its production line and estimates that, within a maximum period of 3 months, will return to the same level of shipping in Saudi Arabia. "Thus, the net loss of income is not material, the company estimating that it could reach a maximum of 0.1% of the net income realized during the last 12 months ended in September 2018, that is 45 R $ millions for the same three-month period, "said the company.
The greatest casualties, among newspapers * – Lot of Thousand Shares [19659180] 1 – In reais ( K – A thousand M – Millions B – Billions) IBOVESPA (With the State Agency and Bloomberg) Active
Cot R $
The highest increases, KROTON
KROTON ON
10.77
+6.63
+21.42
285.236M
EGIE3
ENGIE BRASILON
41.05
+5.42
+24.32
93.15M
SCNA
OF THE CONTIN NACIONALON
10.32
+5.41
+16.74
123.22M
B3SA3
B1 ON
31.16
+4.67
+ 16.23
19659039]
VVAR3
VIAVAREJO ON
5,16
+4.67
+17.54
121.85M
Code
Active
Cot R $
% Day
% Year
Flight 1
ABEV3
AMBEV S which are part of the index Bovespa. / A ON
17.18 [19659074] -2.05
+11.70
462.78M
CIEL3
CIELO ON
10.21
-1.83
+14,85
] 19659046] USIM5
USIMINAS PNA
9.72
-0.41
+6.25
283.12M
TAEE11
TAESA ONE N2 [19659036] 25.35 [19659073] -0.20
+7.42
55.19M
EMBR3
EMBRAER ON
19.46
-0.10
The most traded stocks, among which the Bovespa index, were the following:
Code
Assets
Cot R $
Var%
1
1
1
PETR4
PETROBRAS PN N2
25.43
+1.19
1.65B
42.674
ITUB4
ITAUUNIBANCOPN
37.54
+0.67
] 974.36M
.
ITSA4
ITAUSA PN
12.99
+1.33
840.85M
320.09M
40.583
VALE3
VALE ON [19659100] 55.65
+1.03
74.67.06M [19659114] 1.03B
29.168
BBAS3
BRASIL ON
49.20
+2.07
499.02 M
499.62M
telephone.
ABEV3
AMBEV S / A ON
17.18
-2.05
462.78M
397.56M
34.424
BBDC4
] BRADESCO NP
] 42.72
+1.71
458.52M
572.30M
24.963
B3SA3
B3SA3
B3SA3
B3SA3 [1965999] B3SA3 [1965999] B3SA3 [19659] 19659100]
+4.67
342.34M
352.85M
25,608
SUZB3
SUZANO PAPELON
45.84
to 1965. KROTON
KROTON ON
10.77
+6.63
] 118.01M
32 735
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