Stock market returns to 120,000 points and reaches highest level in a month

The B3 Ibovespa index ended this Friday (21) at 120,217 points, up 1.81%, boosted by shares in oil companies, mining companies, banks and airlines. The indicator reached the highest level since June 21, the last time it closed above 120,000 points.

The commercial dollar ended the day sold at R$4.781, down R$0.017 (0.47%). The price started the day high, but started to fall in the first minutes of trading. At the low of the day, around 11 am, it reached R$ 4.76.

With today’s performance, the US currency closes the week with a drop of 0.29%. The currency accumulates a drop of 0.19% in the month and 9.45% in 2023. The quotation is close to the year’s low, R$ 4.767, registered on June 26.

The global financial market awaits the meeting of the Federal Reserve (Fed, North American Central Bank). Next Wednesday (26), the agency will decide whether to maintain the basic interest rates of the largest economy on the planet or raise the rate by 0.25 percentage points, which should end the cycle of hikes started in April last year.

In Brazil, investors are betting on a drop in the Selic Rate (basic interest rate for the Brazilian economy), at the next meeting of the Monetary Policy Committee (Copom) of the Central Bank, in the first week of August, because of the recent drops in inflation. Despite the perspective of a decrease in the rate, currently at 13.75% per year, interest rates will remain high, which attracts financial capital from abroad.

A 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