Market for Brazil in the Cup; Ibovespa remains high by almost 3%



Ibovespa maintained a strong rally on Thursday after the first half of Brazil’s World Cup opener, but volume has changed little since the start of the match, in a session with liquidity influenced by a holiday in the United States.

At 16:52, the Ibovespa was up 2.78% to 111,869.22 points. At its highest so far, it reached 112,612.16 points. The financial volume amounted to 15.3 billion reais. Five minutes before the start of the Brazilian team’s match against Serbia, the turnover was 14.56 billion reais.

“It stopped altogether,” said an operator of a foreign brokerage in São Paulo. One executive said few traders should act during the remainder of the session given the “operational risk”.

The maximum was attributed by market agents to the news that the elected president Luiz Inácio Lula da Silva will not be an interventionist in Petrobras, as well as that the economist Pérsio Arida could be part of the new government.

In the opinion of Tiago Cunha, stock manager of Ace Capital, in a session with less liquidity, this news, as well as the perception of a narrower scenario for the approval of the Transition PEC, served as an argument for the purchases.

The Ibovespa comes from two weeks of decline and until the day before it was zero to zero this week. In the month the sign is negative at 3.6%.

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Source: Terra

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