Dollar closes down and goes to R$ 5.15; Ibovespa ends up 0.71%

O dollar closed this Tuesday (8) down 0.45% against the real at the same time, being traded at R$ 5.149 on sale, reversing the surge of the day before. The American currency lost steam with investors in the midterm elections in the United States and with the waning mood around the possibility of China relaxing restrictions against the coronavirus.

already the Ibovespa closed higher, with relevant support from Vale’s shares, while the corporate news also made prices, with CSN Mineração soaring after announcing billionaire dividends and Ecorodovias among the biggest lows after a result with an increase in indebtedness.

Reference index of the Brazilian stock market closed up 0.71%, at 116,160.35 points. At the minimum, in the morning, it fell below 115 thousand points. At maximum, it surpassed 117 thousand points.

The announcement by the team about the transition of government of President-elect Luiz Inácio Lula da Silva made the Ibovespa waver towards the end of the trading session, but it took its breath away afterwards.

The vice president-elect, Geraldo Alckmin (PSB), revealed, in a press conference, the names that will be in the transition team of the new government. The highlight is the economic area, which will include economists André Lara Resende, Guilherme Mello, Nelson Barbosa and Pérsio Arida.

In this session, the BC held an auction of up to 16,000 traditional foreign exchange swap contracts for the purpose of rolling over the maturity date of December 1, 2022.

Iron ore

Iron ore on the Dalian Exchange hit its highest level in two weeks on Tuesday, supported by lingering hopes that China will ease its Covid-19 rules, as well as technical purchases, despite concerns about a rise in new iron ore. coronavirus cases in some Chinese cities and weak demand for steel.

January’s top-traded iron ore on China’s Dalian Commodity Exchange ended daytime trading up 2.6% at 680 yuan ($93.80) a tonne after hitting its highest level since Oct. 683 yuan.

Dalian steel ingredient contracts for February onwards saw bigger gains amid expectations that any major change to China’s strict Covid containment policy could be carried out in 2023.

However, the iron ore rally appeared to lack support from fundamentals as Covid-19 restrictions and upcoming winter steel production cuts are likely to dampen demand.

swing season

Companies listed on B3 are in the third quarter of this year’s reporting season, with investors eyeing the companies’ earnings, costs and prospects for the year ahead.

Tim presented a performance below expectations, with a drop in profit in the period, which made the operator’s shares operate in decline. A similar situation occurred with Ecorodovias, which also saw its profits decline and reported an increase in indebtedness.

BTG Pactual profited around R$2.2 billion in the third quarter, up 25.5% compared to the same period in 2021.