Ibovespa opens unstable this Friday

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On Thursday, the main index of the stock exchange rose 0.62%, to 112,922 points. Market follows the São Paulo Stock Exchange (B3). KEVIN DAVID/A7 PRESS/ESTADÃO CONTENT The Ibovespa, the main index of the São Paulo stock exchange, the B3, opened unstable this Friday (20). At 10:05 am, the index is up 0.01% to 112,933 points. See more quotes. On Thursday, the index had registered high of 0.62%, to 112,922 points. As a result, the Ibovespa started to accumulate a gain of 2.90% in the year. What is messing with the markets? In the internal scenario, on a day with an empty agenda for disclosing economic indicators, the market echoes new signs of economic policy. After President Lula stated in an interview with GloboNews, on Wednesday (18), that the independence of the Central Bank of Brazil is “nonsense”, the Minister of Institutional Relations, Alexandre Padilha, stated that there is no pre-disposition on the part of the government to make any changes to the institution. The speech pleased and reassured investors. The president of the Central Bank, Roberto Campos Neto, was also questioned about the president’s statement this Thursday, while speaking to an American university in Los Angeles. When responding, he said that the statement was taken out of context, as what Lula would have said is that the BC’s independence does not need to be in the law. “In some of these interviews, a lot of things are taken out of context, because if you look at the interview, on the one hand he praised me, on the other hand I think he meant that you don’t need independence in law, you can have the independence without the law to make things work,” replied Campos Neto. On the corporate agenda, Americanas is still in focus. This Thursday, B3 announced the removal of the company’s shares from its indexes after the request for judicial recovery, with debts of R$ 43 billion. Abroad, caution remains with the risk of recession in the United States. Today, the market awaits new speeches by Federal Reserve (Fed, the American central bank) leaders, which may indicate the course of interest rates in the country. On the eve, the vice-president of the Fed, Lael Brainard, said that despite the deceleration of American inflation in recent months, interest rates in the country need to remain high to control the rise in prices. Higher interest rates in the United States increase the yield on the country’s government bonds, which are considered the safest in the world. Thus, investors migrate to such investments, to the detriment of risky assets, such as the stock market and currencies of divergent countries – which helps to explain the devaluation of the real against the dollar. With inflationary pressure and higher interest rates, the perception of risk that the United States faces an economic recession also grows.

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