Home Business Ibovespa Falls Guided by Petrobras After Oil Tumble

Ibovespa Falls Guided by Petrobras After Oil Tumble

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The Ibovespa fell on Tuesday as Petrobras shares fell amid soaring oil prices in the foreign market as financial agents continue to wait for clearer signals on the new government’s economic plans.

Benchmark index of the Brazilian stock market, Ibovespa fell 0.71 percent, to 84,914.11 points, lower closing since October 29. The financial turnout of the session amounted to 13.769 billion reais.

Overseas, brent crude fell 6.63 percent to $ 65.47 a barrel and the WTI contract fell 7.07 percent to $ 55.69 on fears of weakening global demand and oversupply.

In addition to the oil effect, professionals from the area of variable income cited investors who are more cautious because of doubts about the evolution of the reforms under the government of President-elect Jair Bolsonaro, mainly in that of Previdência, preferring to wait for more effective definitions.

In the view of the analyst Vitor Suzaki, of Lerosa Investimentos, although somewhat predictable, since it is a transitional government and a divided Congress, difficulties in the negotiations tend to bring discomfort. “And in doubt, many investors prefer to sell stocks to pocket profits,” he said.