Home Banking Ibovespa Opens November at 88,419 Points, the Highest Level in History

Ibovespa Opens November at 88,419 Points, the Highest Level in History

Benchmark of the Brazilian stock market advanced 1.14 percent and closed the week with a rise of 3.15 percent

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The Ibovespa closed at a historic high this Thursday (1st), having surpassed 89,000 points at the best moment of the day, while financial agents are still hoping for a positive agenda for the new government of President-elect Jair Bolsonaro.

Benchmark index of the Brazilian stock market, Ibovespa ended the trading session with a 1.14 percent increase, to 88,419.05 points, the highest closing level in history.

At the high of the day, the index reached 89,107.37 points, an intraday record. The financial volume reached R $18.75 billion.

In the week, shorter due to the national holiday on Friday, the Ibovespa rose 3.15 percent, hitting the fifth weekly followed in a row. In the period, the index appreciated 11.4 percent.

Copom maintains interest rate at 6.5 percent year for the 5th consecutive time

Wall Street endorsed gains in Sao Paulo‘s trading session, with blue-chip stock indexes boosted by robust quarterly balance sheets and strong October drops in New York.

Strategists are expected to continue stock market volatility in November, but see room for gains to remain, amid expectations of a liberal agenda and reform agenda for the country to be implemented by President-elect Jair Bolsonaro.

Highlights

• BRADESCO PN closed a 5.71 percent increase, after a 13.7 percent increase in recurrent net income for the third quarter in the year to R $5.471 billion, with a decrease in provisions for losses on bad loans. The return on equity of 19% exceeded analysts’ forecasts. “I have the power [finally],” was the title of the Brazil Plural analysts’ report on the balance sheet.

• BANCO DO BRASIL appreciated 1.47 percent and ITAÚ UNIBANCO PN increased 1.44 percent, while SANTANDER BRASIL UNIT fell 0.95 percent.

• PETROBRAS PN closed down 1.09 percent, as oil prices increased losses, but from the background news that the company signed on Wednesday agreement to sell its 50 percent stake in the Dutch joint venture Petrobras Oil & Gas (PO & GBV), which holds assets in Nigeria, for a total value of up to $1.53 billion.

• VALE advanced 1.39 percent, in session of high of shares of miners also abroad.