Ibovespa opens lower, with political scenario on the radar

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The previous day, the index rose 1.34%, to 119,673 points. Ibovespa operates at a high Freepik The Ibovespa, the main index of the São Paulo stock exchange, the B3, opened lower this Tuesday (4th), in yet another day in which attention is focused, above all, on the progress of economic agendas in Congress. Today, the former executive secretary of the Ministry of Finance, Gabriel Galípolo will be questioned in the Senate for the direction of the Central Bank of Brazil (BC). This trading session is marked by lower volatility because the markets in the United States are closed due to the Independence Day holiday. At 10:05 am, the index fell 0.14% to 519,506 points. See more quotes. On the previous day, the Ibovespa closed with an increase of 1.34%, at 119,673 points. With today’s result, the index has accumulated an increase of 9.12% in the year. What is messing with the markets? Today, the Economic Affairs Committee (CAE) of the Saturday Senate Gabriel Galípolo for the BC board, following the government’s indication. Analysts at BTG Pactual point out that Galípolo is seen as a possible successor to the presidency of the institution at the end of Roberto Campos Neto’s term, which runs until next year. “Galípolo’s statements will be followed by the market, especially now, with the closing of the interest curve and the expectation of a cut in the Selic (basic interest rate)”, they point out. Still on the political front, investors are keeping an eye on the progress of some economic agendas in Congress, with emphasis on the new fiscal framework and the tax reform, which should be voted on this week. THE SUBJECT: Tax reform – how it affects your life This Tuesday morning, the Brazilian Institute of Geography and Statistics (IBGE) released data on industrial production in Brazil for May. In that month, the industry grew 0.3%, while it had stability in the accumulated result in 12 months, slightly below market expectations, which expected an annual increase of 0.9%.

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