Even in the face of a very serious scenario that the whole world is going through, the IBOVESPA (Brazilian stock exchange) had an increase this last Monday, April 13th.
According to information from Economic value, Ibovespa closed higher on this one due to the news regarding the agreement of the Organization of Petroleum Exporting Countries and allies (OPEC+) to reduce the production of the commodity in the world.
What happened in the market? The speech by the Saudi Arabian Minister of Energy about the effective cuts in the supply of oil after the pact closed by OPEC+, which add up to around 19.5 million barrels per day, made this rise in the stock market possible.
This decision takes into account the group's agreement, the commitment of other G20 countries and oil purchases for strategic reserves.
The largest fuel producers agreed to cut daily production by 9.7 million barrels per day, mainly for the United States, Canada, Mexico and Brazil, accepting smaller cuts.
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During the morning, Donald Trump, said on Twitter (his official communication channel) that the number that countries are looking for, in fact, is 20 million barrels per day of cut in production. Brent barrel was up from 2.06% to US$ 32.13.
Even with restrictive measures, the coronavirus has already reached 550,000 infections in the United States, with 22,000 deaths.
For this reason, Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, as well as Mandetta in Brazil, has taken a leading role during the health crisis, stated that the “reopening” of parts of the country could begin gradually in May.
Governor Andrew Cuomo (of New York) said the state is “controlling the spread” and that it appears “the worst is over […] if the restriction measures remain,” he told local media.
Already for those in Europe, where the concentration of the virus has also caused great damage. The slowdown of the pandemic continues, in Italy, for example, 431 new deaths were recorded on Sunday, the lowest number since March 19.
IBOVESPA growth
The stock exchange in Brazil rose 1.49%, to 78,835 points with a financial volume traded of R$ 17.67 billion.
But at the end of the day, dollar May futures have gains of 1.37% to R$ 5.20. The commercial dollar, in turn, rose to 1.86%, to R$ 5.1825 for buying and R$ 5.1855 for selling.
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Source: Economic value
