By Aluisio Alves
SAO PAULO (Reuters) – The main Bovespa index deepened losses on Thursday afternoon, with a profit-taking movement spreading more widely, as investors took a less optimistic view after signs of monetary tightening.
Around 16:12, the Ibovespa fell 1.11%, to 127,821 points. The financial turnover of the session totaled 28 billion reais.
Unlike at the beginning of the session, when one-off increases, such as those of bank shares, sustained the index in the blue, the market adopted a more generalized negative bias, with the Ibovespa embarking on its third consecutive fall.
In reports, investment analysis houses pointed out that the more negative movement reflected signs of monetary authorities in Brazil and the United States, which although they confirmed monetary policy forecasts the day before, both indicated tightening greater or closer than expected.
Shares in domestic commodity or consumer-linked companies, some of the bullish highlights in recent months, were among the biggest losses in the trading session.
Individual highlight, Eletrobras fell more than 3% amid discussions for a vote in the Senate of the provisional measure for the privatization of electricity. Despite changes in the text, the government still faced resistance among senators.
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source https://pledgetimes.com/ibovespa-drops-more-than-1-and-returns-to-127-thousand-points-istoe-dinheiro/
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