O Ibovespa renewed highs in seven months this Wednesday (7), touching 116 thousand points. Around 11:30 am, the main index of the Stock Exchange advanced 0.69%, to 115.4 thousand points, after having risen just over 1%.
The local market reacts to the data, signaling an improvement in the scenario for inflation in the country and corroborating the bets on an earlier cut in the Selic rate.
According to the Commcor brokerage team, the expectation that a Selic cut is getting closer has gained ground.
“A good part of the projections that previously indicated the meeting (of the Central Bank’s Monetary Policy Committee) in September as the beginning of such a cycle have now migrated… to the meeting of the 1st and 2nd of August”, he said in a report to clients earlier .
According to the IBGE, the IPCA rose 0.23% in May, after rising 0.61% in April, accumulating a 12-month increase of 3.94%. Expectations compiled by Reuters pointed to increases of 0.33% and 4.04%, respectively.
As a result, shares of companies such as Goal (GOLL4), which are positively influenced by the drop in interest rates due to high debt, increased by around 4%. the retailer Magazine Luiza (MGLU3) rose 3.76% to R$4.14.
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Petrobras helps Ibovespa
The Ibovespa was still gaining momentum from the Petrobras (PETR4), which rose 2.9%, to R$ 28.87, helped by high oil prices abroad.
In addition, Morgan Stanley raised the recommendation of the company’s shares to “overweight”, as well as the target price of the ADRs (share receipts traded in the United States) from US$ 12.5 to US$ 15.5.
*With information from Reuters
Source: Moneytimes
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