Given better expectations about the pandemic, Bovespa closes higher and reaches 76,358 points. Dollar closes the day at R$ 5.22.
On Tuesday (7), Bovespa closed higher for its second consecutive day. The main index of the Brazilian stock exchange closed the day with 3.08%, at 76,358.09 points. Today it soared more than 7%, reaching its peak of 79,855 points. The day before, the stock exchange closed higher by 6.52%, at 74,072 points.
The results were a consequence of the good expectations in global markets, regarding the possibility that in some cities in the United States and Europe the contagion of the coronavirus had reached its peak, or was approaching it.
External scenario
“The improvement in the number of deaths related to Covid-19 in Europe and the US continues to promote the return of risk appetite in the markets,” analyzed the Guide Investimentos team, in a report to clients this Tuesday.
Surprisingly, the retail sector in Brazil recorded a rise in sales in February, the best result for the month in the last four years. This result does not yet reflect the effects of the closure of stores and businesses due to restrictive measures to combat Covid-19.
.Retail sales volume in February increased by 1.2% compared to January, according to information from the Brazilian Institute of Geography and Statistics (IBGE) released this Tuesday.
According to analysts at brokerage firm Guide, conflicts and internal disputes in politics are a hindrance. However, it is likely that the Brazilian stock market will continue to benefit from improved movements abroad.
Permanence of the Minister of Health
In Brazil, on Monday (6), news that President Jair Bolsonaro had decided to fire the Minister of Health, Luiz Henrique Mandetta, increased uncertainty about how the country would deal with the health crisis. However, at the end of the day, after a ministerial meeting, Mandetta confirmed his permanence in the position, ending speculation amid the dispute related to the strategy to combat covid-19.
“Mandetta remaining in office should leave investors feeling more relieved and sustain the good mood abroad,” commented Empiricus.