Ibovespa has the 7th best performance among 79 countries in August, according to a survey

O Ibovespa had the seventh best performance among the main stock indices of 79 countries, while the real recorded the 25th largest appreciation against the dollar among more than 120 countries, according to a survey by the risk rating agency Austin Rating.

According to the survey, the main index of the Brazilian stock market had a rise of 5.76% in August in the variation in dollar. The real appreciated 0.18%, in a favorable month for the US currency, with most countries registering currency devaluation.

The index with the best performance in the month was the BIST 100, from Turkey up 20.48%, followed by the stock exchanges of Sri Lanka, Pakistan, Russia and Kazakhstan.

The biggest drops were in the stock exchanges of Zimbabwe, which fell 37.98%, Poland, Sweden, the Czech Republic and Slovakia, confirming a month of bad performance for the stock exchanges. european amid fears about the supply of natural gas to the continent and pessimism regarding the process of combating inflation in the region, through high interest rates, with the risk of recession.

The Stoxx 600, which tracks the performance of Europe’s top stocks, ranked 72nd. the bags of United States also had a negative month, with losses above 4%.

Among the currencies, the biggest appreciation against the dollar was the Pakistani rupee, which gained 9.82% after heavy losses in the previous month due to political instability in the country. Also with recovery, the ruble of Russia rose 7.14%, followed by the currencies of Costa Rica, Algeria and Kyrgyzstan.

The Venezuelan bolivar was the currency with the biggest loss in value in August, at 26.37%. The currencies of Ghana, Myanmar and Georgia are also among the biggest devaluations, as is the Argentine peso, which fell 5.41% amid a worsening economic situation in the country and an increase in inflation.

In the year, the Ibovespa accumulates a high of 12.09%, in 9th position, while the real has the 8th largest appreciation, with 7.75%.

For Austin Rating analyst Gabriel Ribeiro, “Brazil continues to show favorable economic indicators, even with high interest rates, and international investors perceive companies in the Brazilian market to be discounted, favoring the entry of investments”.

He also highlights the performance of the Russian stock market, which has appreciated even with the war in ukraine since “oil companies have benefited and, together with the export of natural resources, guarantee the appreciation of the index”.

“In relation to currencies, the highlight is again given to Russia, which has benefited from the export of commodities such as natural gas, wheat and oil. Countries like Pakistan and Costa Rica are in severe economic problems, a situation that weighs against their currencies, but which, when they appreciate, register high percentages”, he explains.

To CNN Brasil Business analysts attributed the positive performance of the Brazilian market in August to a combination of factors that created an inflow of foreign capital into the country, with much of it destined for the actions helping the Ibovespa to recover.

One of the main positive factors in the month was an improvement in investors’ prospects for demand for commodities which, even with recent drops, remain at high price levels, according to Bruce Barbosa, founding partner of Nord Research.

For Raphael Figueredo, partner and CNPI technical analyst at Eleven Financial, the international moment favors commodities, especially the Petroleum which is linked to the company that he believes to be the main protagonist behind the performance of the Ibovespa, the Petrobras .

He claims that the state-owned company was responsible for about 30% of the index’s appreciation since June.

Pedro Serra, head of research at Ativa Investimentos, highlights that the companies’ financial results in the second quarter corroborate the assessment that their shares are very cheap, attracting investments.

Another factor that, according to Serra, leads to this detachment is the “improvement of the perception of the Brazilian GDP, and inflation with better-than-expected numbers. There is still a clearer view of how far interest rates will go, at 13.75%, falling next year”.

With more security and a stronger economy in the short term, he says that the market has had “fundamentals, solidity, predictability”, at the same time that the world is being “surprised, with strong doubts about the interest rate cycle”.