São Paulo Stock Exchange closes higher for the third day in a row

For the third consecutive session, the Ibovespa, an average performance indicator for the main shares traded on B3, the São Paulo stock exchange, closed higher on Monday (8). The index rose 0.85% and reached 106,042.15 points. At the maximum of the session, it reached 106,715.75 points. The financial volume added up to R$ 25.3 billion. The index variation was influenced by the advance of commodities abroad, such as iron ore and oil, which helped securities such as Vale and Petrobras. Internally, the Minister of Finance, Fernando Haddad, announced today that the executive secretary of the portfolio, Gabriel Galípolo, will be appointed to the Monetary Policy board of the Central Bank (BC). Amid repeated criticisms by the President of the Republic, Luiz Inácio Lula da Silva, of the BC’s interest rate policy, the market closely monitors the nominations for the directorates of the autarchy to assess whether the names of the new government may represent some kind of rupture or opposition to the visions of the current BC president, Roberto Campos Neto. Goldman Sachs highlighted, in a report to clients, that, given the political role in the current government, Galípolo is seen as a potential replacement for Campos, when his mandate at the head of the BC ends, at the end of 2024. The spot dollar closed sharply rising against the real, returning to the BRL 5 level after investors reacted negatively to the announcement of Galípolo’s nomination. The spot dollar closed the day quoted at R$5.015 on sale, up 1.44%. It was the biggest one-day percentage gain since April 19, when it was up 2.2%. *With information from Reuters

Agência Brasil