Dollar and Ibovespa are falling, with a veto on exemptions and Petrobras in focus

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The day before, the North American currency rose 0.11%, quoted at R$4.9068. The main stock index on the Brazilian stock exchange ended up 0.43%, at 126,576 points. Dollar banknotes John Guccione/Pexels Ibovespa, the main stock index on the Brazilian stock exchange, opened lower in trading this Friday (24), while investors digested the new investment plan announced by Petrobras and the veto of President Luiz Inácio Lula da Silva to the extension of payroll tax relief for 17 sectors of the economy, which can still be overturned by Congress. The dollar also falls, on a busy day abroad with the Thanksgiving holiday in the United States. See the day in the markets below. Understand what makes the dollar rise or fall Dollar At 10:15 am, the dollar fell 0.36%, quoted at R$4.8891. See more quotes. The previous day, the North American currency closed up 0.11%, quoted at R$4.9068. With the result, it started to accumulate: increase of 0.01% in the week; falls of 2.65% in the month and 7.03% in the year. Ibovespa At the same time, Ibovespa was down 0.61%, at 125,808 points. The day before, the index closed up 0.43%, at 126,576 points, renewing its highest level in more than two years. As a result, it accumulated gains of: 1.44% in the week; 11.87% in the month; 15.35% in the year. MONEY OR CARD? What is the best way to take dollars when traveling? DOLLAR: When is the best time to buy the currency? What’s moving the markets? In global markets, Friday is another day of low liquidity due to the Thanksgiving holiday in the United States. On Wall Street, the stock market resumed operations, but in reduced trading. Here, President Luiz Inácio Lula da Silva (PT) vetoed this Thursday (23) the project that extends the payroll tax exemption for 17 sectors of the Brazilian economy. The decision was published in an extra edition in the Official Gazette of the Union (DOU). The project, approved by the National Congress, allows companies in these sectors to replace the social security contribution, of 20% on employees’ salaries, with a rate on the enterprise’s gross revenue, which varies from 1% to 4.5%, according to with the sector and service provided. This rule, according to the proposal approved and sent to Lula for sanction, would be valid until December 31, 2027. The president of the Chamber, Arthur Lira (PP-AL), told allies that he did not expect a full veto from President Luiz Inácio Lula da Silva (PT) to the project that would extend the payroll tax exemption for 17 sectors of the economy. The proposal was approved by a large majority in the Chamber and the Senate, and the veto mobilized party leaders in the last few hours. Lira told interlocutors, according to reports, that “he did not believe that the government could go against Congress and the business community in the 17 sectors, which employ millions of people.” Senator Efraim Filho (União-PB), author of the proposal, stated this Friday (24) in an interview with GloboNews that he will seek the support of parliamentarians to overturn the president’s veto. Still on investors’ radar are the negotiations between the Ministry of Finance and the Legislature to advance the provisional measure (MP) of the ICMS subsidy, the government’s priority project at the moment to improve the primary result of 2024. In the corporate scenario, it has repercussions Petrobras’ new strategic plan, which foresees investments of US$ 102 billion between 2024 and 2028. In an announcement this Thursday (23), the state-owned company also informed that it projects an increase of more than 13% in oil production in five years. In the previous plan (2023-2027), when the company was still focused on divestments, the total projected investments were US$78 billion.

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