The Ibovespa closed down 0.78% this Friday (20), at 112,040.64 points, in the last trading session of a week marked by the collapse of Americanas, one of the most traditional retailers in the country, which saw its shares sink to cents after filing for bankruptcy amid debts of BRL 43 billion, after identifying accounting inconsistencies of BRL 20 billion.
In the accumulated result for the week, the index registers an increase of 1.16%. In the year, the balance is positive by 2.25%. Americanas, on the other hand, had another day of decline, 29%, ending the session at R$ 0.71. In the last trading session before the announcement about the breach in the company’s accounting, the share closed quoted at R$ 12.
Statements by President Luiz Inácio Lula da Silva also brought discomfort, but the strong flow of foreign capital to the Brazilian stock market at the beginning of the year, however, provided another week with a positive accumulated performance, which left the performance in 2023 in the blue .
The dollar closed up 0.68% this Friday (20), quoted at R$5.208, marking the third day of appreciation against the real, as financial agents still echo recent statements by President Luiz Inácio Lula da Silva on the economy, while, abroad, the US currency retreated against most currencies.
In the week, the US currency accumulates appreciation of 1.98%, the first week of high in the year.
On Wednesday, President Lula said in an interview with Globo News that “it is silly” to think that the president of the independent Central Bank will do more than what the president of the country indicated. Yesterday, Campos Neto, head of BC, said that the president’s speeches were taken out of context and put the statements in perspective.
With the domestic agenda emptied, the Ibovespa tries to hold on to making profits, piggybacking on both oil and iron ore prices, which have risen in the international market, and help Brazilian companies in the sector.
International investors also renew their bet on China’s economic recovery and, therefore, improving the environment for investments in emerging countries.
According to JP Morgan, the Brazilian market is too cheap to be ignored with the reopening and recovery of the Chinese economy. Furthermore, the market is in line with the rise in international markets.
Americanas outside the Ibovespa
As of this Friday, Americanas shares are excluded from the Ibovespa and all other indices that it was part of the Brazilian Stock Exchange.
The measure was announced the day before by B3 itself after the retailer filed for bankruptcy.
Since the retailer’s accounting deficit came to light, 9 days ago, the action of Americanas has plummeted. This Friday, it is quoted at R$ 0.66.
With the exit of the indices, the asset must have liquidity problems and become even more volatile until the company’s situation becomes clearer.
*With information from Thais Heredia, from CNN, and Reuters. Text published by Ligia Tuon and Ana Carolina Nunes
Source: CNN Brasil
A journalist with over 7 years of experience in the news industry, currently working at World Stock Market as an author for the Entertainment section and also contributing to the Economics or finance section on a part-time basis. Has a passion for Entertainment and fashion topics, and has put in a lot of research and effort to provide accurate information to readers.
