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The Sao Paulo Stock Exchange repeats its record maximum

On Wednesday, the Sao Paulo stock market hit its sixth consecutive rise by advancing by 1.04%. The increase marked a new all-time high, moving towards 130,000 points, driven by Petrobras oil company. 

Sao Paulo renewed its record for the fourth consecutive day today. Its Ibovespa, its benchmark index, ended the session at 129,601 points, affecting the rise in Brazilian GDP, which grew 1.2% in the first quarter of the year according to Government data.

Optimism also took hold of the exchange market, where the US dollar depreciated 1.22% against the Brazilian real. The greenback reached the lowest level recorded in the country since last December.

The dollar ended the session trading at 5,083 reais for buying and selling at the commercial exchange rate.

Rising oil prices support a great run of Petrobras shares

The state oil company Petrobras, the largest company in Brazil, stood out among the best performances of the trading session in Sao Paulo. It followed the rise in international crude prices.

The company’s common shares led to the most significant increases of the day. They gained 4.96%, while preference shares advanced by 2.82%, and they were the most traded.

On the other hand, the mining company Vale experienced a rise in its shares by 1.41%. The preference securities of the Itau-Unibanco bank rose by 3.33%.

Among the highest gains of the day, in addition to Petrobras, the preference shares of the petrochemical company Braskem stood out; It hiked by 4.82%. Also, the ordinary shares of BRF, one of the biggest food companies, surged by 4.11%.

On the other hand, the common shares of the Bolsa were the biggest losers, with a fall of 3.90%. It was followed by the health insurance administrator SulAmerica dropping by 3.35%. Internet services company LocaWeb decreased by 3.16%.

The Sao Paulo Stock Exchange volume exceeded 41,364 million reais (about 7,792 million dollars). 

 

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