Uncertainty over Petrobras’ pricing policy caused market reaction; B3 registered an increase of 0.52% this Friday (3.Mar)
The Ibovespa, the main index of B3 (São Paulo Stock Exchange), closed at 103,865.99 points this Friday (3.Mar.2023). The high recorded is 0.52% compared to the previous day. In the week, the index fell 1.83%.
On Thursday (March 2), the Brazilian stock exchange closed down 1.01%. The result coincided with statements by the president of the Petrobras, Jean Paul Pratesrelated to uncertainties regarding the state-owned company’s pricing policy.
Other movements related to Petrobras, such as the reduction in gasoline and diesel prices on Tuesday (28.Feb), also caused a reaction in the financial market.
US stock markets closed this 6th on a high. The Dow Jones Industrial Average rose 1.17% and the S&P500, 1.61%.
On the day, the dollar fell by 0.08% and closed at BRL 5.20. The US dollar exchange rate rose 0.02% since last Friday (Feb 24).
BRAZIL RISK
Used to measure foreign investor confidence in the Brazilian economy, country risk –or CDS (Credit Default Swap) of 5 years – recorded 225 points this Friday (3.Mar). 1 year ago (3.Mar.2022), the indicator was at 221 points.
FOREIGN CAPITAL
Foreign investors withdrew R$ 400 million from the Stock Exchange this month until Wednesday (1st March), latest data available. In the year, the balance is positive at R$ 10.4 billion.
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