THE Ibovespa ended the trading session up 0.21%, at 110,580.79 points, in a session marked by volatility, while the market digested the Extended Consumer Price Index – 15 (IPCA-15 ) of May. This was the highest level since April 25, when it hit 110,685 points.
What also left B3’s main index unstable were the shares of Petrobras after the announcement of a change in the presidency, and companies linked to iron ore, which closed down in China.
already the dollar closed with a slight increase of 0.11%, quoted at R$ 4.813, this Tuesday (24). The announcement of new restrictions in the Chinese capital against Covid-19 increased risk aversion, benefiting the currency.
In this session, the Central Bank held an auction of up to 15 thousand traditional foreign exchange swap contracts for the purpose of rolling over the maturity date of July 1, 2022. The BC operation can help to provide liquidity in the currency, but experts consulted by the CNN Brasil Business point out that the body could do more to contain exchange rate volatility .
On Monday (23), the dollar fell 1.31%, to R$ 4.807. The Ibovespa, on the other hand, rose 1.71%, to 110,345.82 points, in highest percentage rise since March 18 when it rose 1.98%, and at the highest level since April 26.
Petrobras
On Tuesday’s market radar were the developments of yet another change in the presidency of Petrobras . The new name, however, is seen by investors as someone who should not intervene in the state-owned company’s pricing policy, but the instability in command, with high turnover, alienates investors. The state’s shares dropped more than 4% .
The Ministry of Mines and Energy (MME) informed that the name indicated to assume the position is that of Caio Mario Paes de Andrade from the Special Secretary for Debureaucratisation, Management and Digital Government of the Ministry of Economy, where he is responsible for the gov.br platform.
According to the Ministry, “the nominee has all the qualifications to lead the company and overcome the challenges that the present situation imposes, increasing its reputational capital, promoting continuous administrative improvement and the company’s growing performance, without neglecting its governance responsibilities. , environmental and, especially, social of Petrobras.”
Caio Mário Paes de Andrade holds a degree in Social Communication from Universidade Paulista, a postgraduate degree in Administration and Management from Harvard University and a Master’s in Business Administration from Duke University. Caio Paes de Andrade was president of Serpro (Federal Data Processing Service) until August 2020
IPCA
THE IPCA-15 considered a preview of inflation, had a deceleration in relation to April, but came higher than expected by the market, indicating a process inflationary more persistent. Higher-than-expected inflation may cause the Central Bank to increase its interest rate above the signal, harming more sensitive sectors, such as retail and travel.
Étore Sanchez, chief economist at Ativa, says that the index “surprised us and the market a lot”.
“The cores proved to be much more pressured than we anticipated, denoting a bad inflation dynamics, which preliminarily should boost our outlook for the IPCA for the year, still at 8.2%, up”, he says.
global pessimism
The most recent instigator of global risk aversion was the interest rate hike in the US , announced by the Federal Reserve on May 4. Despite discarding hikes of 0.75 pp or a risk of recession, the municipality signaled at least two more hikes of 0.5 pp
Higher interest rates in the United States attract investments for the country’s fixed income due to its high security, but it harms stock exchanges around the world, including the North American ones.
Along with a series of interest rate hikes around the world, lockdowns in china to try to contain Covid-19, projections of a strong economic slowdown and even the risk of a global recession have increased, hurting markets and increasing investor risk aversion.
However, with the prospect that these restrictions could be lifted in June, Chinese demand is expected to return to previous levels, which would once again favor commodity exporters and alleviate some of the pressure on the real.
Up and down from B3
Here are the main highlights of Tuesday’s trading session:
biggest highs
- PetroRio (PRIO3) +3.90%;
- Equatorial (EQTL3) +3.56%;
- 3R Petroleum (RRRP3) +3.39%;
- Agricultural SLC (SLCE3) +3.26%;
- Taesa (TAEE11) +2.35%
biggest casualties
- CVC (CVCB3) -6.30%;
- Blue (BLUE4) -5.78%;
- Embraer (EMBR3) -5.61%;
- American (AMER3) -4.94%;
- Pan Bank (BPAN4) -4.24%
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*With information from Reuters and Ana Carolina Nunes, from CNN Brasil Business
Source: CNN Brasil

I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.