THE Ibovespa (IBOV) closed the session this Friday (20th) up 1.39%, at 108,487.88 points amid the strength of the commodities.
In Wall Street:
The companies linked to iron oretogether with the banks, sustained the Brazilian index even after the deterioration in foreign markets, highlights the Activate Investments.
already the dollar operates down 1.93%, reaching the mark of R$ 4.88.
OK, Petrobras and Bradesco were the main positive influences to the index. ambev and BTG Pactual were on the opposite end. The day is the expiration of stock options on B3.
For Pedro Paulo Silveira, manager at New Futurethe market’s excitement is also due to the signal given by China about a “perspective of a stimulus program”.
The economic slowdown in the Asian country, amid lockdowns in some cities, is one of the topics that most worries investors today.
What moved the markets?
THE China cut its benchmark mortgage rate by an unexpectedly wide margin on Friday, its second reduction this year as Beijing seeks to revive the housing sector to support the economy.
Officials have pledged new measures to combat a slowdown in the world’s second-largest economy, hit by outbreaks of Covid-19 that provoked strict measures and restrictions on mobility, and caused huge disruptions in activity.
Many market participants believe that Friday’s move was also a response to the Chinese premier’s appeal, Li Keqiang, to decisively accelerate adjustments and leave the economy get back to normal quickly.
with Reuters
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
