Ibovespa continues high and dollar closes at R$4.95

The Ibovespa, the main index of the Brazilian Stock Exchange (B3), ended the day up 1.8%. The upward movement was dominated by companies exposed to commodities. Among those that appreciated the most were mining and steel companies, which mirrored the 2.9% increase in iron ore in Dalian, at US$ 107.85 a tonne.

Vale (VALE3) – the stock with the highest weight on the Ibovespa – had a strong rise of 4.27%. In the same sector, CSN Mineração (CMIN3) recorded appreciation of 4.47%. In the metallurgy sector, highlight for CSN (CSNA3) 4.91%, Gerdau (GGBR4) rose 3.25%.

The commercial dollar followed the downward trend and closed again below R$ 5, going to R$ 4.953, down 1.07% this Friday. In the accumulated result for the week, the dollar depreciated 0.61%.

Goldman Sachs revised the projection for the Brazilian economy of growth from 1.75% to 2.6% at the end of 2023. Bank of America, which had forecast a GDP increase of 0.9%, started to project growth of 2.3%. Finally, Morgan Stanley predicts growth of 2.4%, against 1.7% previously projected.