Stock market exceeds 114 thousand points and closes at the highest level since November

The B3 Ibovespa index closed this Tuesday (6) at 114,610 points, up 1.7%. The indicator reached the highest level since November 8 last year, a week after the results of the 2022 presidential elections.

In the exchange rate, the market had another day of truce. The commercial dollar ended the day sold at R$4.912, down R$0.018 (-0.37%). At the low of the day, around 2 pm, the quotation reached R$ 4.90.

The US currency is at its lowest level since May 15, when it closed at R$4.88. The currency accumulates a drop of 3.17% in June alone. In 2023, the decline reaches 7%.

reasons

Two factors contributed to financial market optimism. In Brazil, the announcement that the IGP-DI, an index released by the Getulio Vargas Foundation (FGV) registered a deflation of 2.33% in May, encouraged the stock market. The sharp decline in inflation increases the chances of the Central Bank bringing forward the start of interest rate cuts, which encourages riskier investments such as the stock exchange.

Abroad, the dollar fell on a favorable day for emerging countries. The increased chances that the Federal Reserve (Fed, US Central Bank) will not change interest rates at the next meeting has reduced pressures on the US currency across the planet, especially in developing countries. The real was one of the currencies that appreciated the most this Tuesday, benefiting from the entry of foreign investments in Brazil.

Now, the Brazil Agency it is giving the articles about the closure of the financial market only on extraordinary days. The dollar rate and the stock exchange level are no longer reported on a daily basis.

*With information from Reuters