SAO PAULO (Reuters) – The main Brazilian stock index retreated on Friday, after reversing mid-afternoon gains in the face of a tumble in shares on Wall Street, and closed the worst month since the initial period of the pandemic in the country.
Steel companies and companies linked to domestic consumption, such as Magazine Luiza and Locaweb, yielded, while Petrobras and other oil companies rose. Shopping mall operators also had a positive day amid the heavy news of the sector.
According to preliminary data, the Ibovespa dropped 1.38%, to 108,405.51 points, after two consecutive highs. The financial volume was 25.9 billion reais.
Also according to preliminary data, the index fell 2.4% in the week, fourth consecutive weekly low, and ended the month down 9.7%, after a series of four-month highs. The April devaluation represents the biggest one-month decline since March 2020, when the index lost 29.9%.
(By Andre Romani)
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