By Aluisio Alves
SAO PAULO (Reuters) – A surge in Petrobras shares after the announcement of a readjustment in fuel prices boosted the main index of the São Paulo stock exchange this Monday, although the outlook for the economy continued to deteriorate.
Also supported by the recovery of the shares of banks and companies linked to metals, the Ibovespa rose 2.28%, to 108,714.55 points, in the first session after the worst week since the beginning of the pandemic. The financial turnover totaled 32.17 billion reais.
The motto of the day was Petrobras’ announcement that it will raise the average price of diesel in refineries by 9.15% and that of gasoline by 7.05%, starting on Tuesday. The measure led to a new round of hikes in inflation forecasts for 2021/22 and reduced fears of government interference in state-owned companies.
Internationally, the positive performance of the US stock exchanges and a relief from the fear of crisis in the Chinese real estate sector, with Evergrande paying creditors and announcing a gradual migration to the electric vehicle business, gave a sigh to the actions of exporters to that sector. Marketplace.
HIGHLIGHTS
– PETROBRAS soared 6.8%, after the company announced that it will raise the average price of diesel in refineries by 9.15% and gasoline by 7.05%, starting on Tuesday.
– VIBRA jumped 5.16%, with Petrobras’ announcement carrying the entire sector linked to the fuel chain upwards. COSAN grew 4%, PETRORIO grew 3.55%, ULTRAPAR increased 1.6%.
– GERDAU had an expansion of 4.6%, with the metals sector reflecting news linked to the Chinese developer Evergrande, which reduced the fear of crisis in the country. CSN had an increase of 4%, USIMINAS advanced 2.3%. VALE had an increase of 1.2%.
– BTG PACTUAL increased by 2.37%, leading among the large banks in the index. BANCO DO BRASIL and ITAÚ UNIBANCO rose 2.1% and 1.95%, respectively.
– HYPERA gained 2.8% after the drugmaker announced late on Friday that it had third-quarter profit 33% versus the same period last year, driven by a 50% revenue increase. Credit Suisse praised the revenue expansion, but pointed to margin compression.
– BRASKEM grew 2.1%. The petrochemical company reported on the night of the sixth setback in the production of ethylene and sales of resins in Brazil, in the third quarter. BTG Pactual highlighted the weaker numbers, but said the company benefits from the weaker real and expects higher dividends in the near term, which could offset noises about a possible sale of shares by major shareholders.
– SUZANO fell 2.5%, returning part of the gains of the last two sessions, in a day of bearish dollar pressing actions of exporters. BRF lost 1.3%, EMBRAER retreated 0.5%.
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source https://pledgetimes.com/ibovespa-gains-momentum-with-fuel-readjustment-by-petrobras/
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