Faced with better expectations about the pandemic, Bovespa closes high and reaches 76,358 points. Dollar ends the day at R$ 5.22.
This Tuesday (7), the Bovespa closed higher for the second consecutive day. The main stock exchange index in Brazil ended the day with 3.08%, at 76,358.09 points. Today it shot more than 7%, at its maximum it reached 79,855 points. The day before, the stock market closed at a high of 6,52%, at 74,072 points.
The results were the result of good expectations in global markets about the possibility that in some cities in the United States and Europe the contagion of the coronavirus has reached its peak, or is approaching it.
external scenario
“The improvement in the number of deaths related to Covid-19 in Europe and the US continues to promote the return of risk appetite in the markets”, analyzed the team at Guide Investimentos, in a report to clients this Tuesday.
Surprisingly, in Brazil, the retail sector registered an increase in sales in February, the best result for the month in the last four years. This result still does not register the effects of the closure of stores and businesses due to restrictive measures due to the fight against Covid-19
.Retail sales volume increased by 1.2% in February compared to January. According to information from the Brazilian Institute of Geography and Statistics (IBGE) released this Tuesday.
In the opinion of analysts at the brokerage firm Guide, conflicts and internal disputes in politics get in the way. But it is likely that the Brazilian stock market will continue to benefit from the improvement in movements abroad.
Stay of the Minister of Health
In Brazil, on Monday (6), news that President Jair Bolsonaro had decided to dismiss the Minister of Health, Luiz Henrique Mandetta, increased uncertainties about how the country would deal with the health crisis. However, at the end of the day, after a ministerial meeting, Mandetta confirmed his stay in office, putting an end to speculation amid the dispute related to the strategy to combat covid-19.
“Maintenance of Mandetta in office should make investors more relieved and sustain the external good mood”, commented Empiricus.
