Petrobras brakes negative pressure and Ibovespa has a slight drop; dollar rises with US inflation data

Ibovespa, the reference index for the Brazilian stock market, closed with a slight drop of 0.08% this Thursday (25), at 124,645.58 points, impacted by the drop of more than 2% in shares of OKfollowing quarterly results below market forecasts.

The counterbalance was the increase of more than 2% of Petrobrasafter shareholders approved the distribution of extraordinary dividends.

The market was also influenced by economic data in the United States that reinforced doubts about the next steps of the North American central bank.

At the day’s high, the Ibovespa reached 124,731.65 points. At the minimum, at 123,702.89 points. The financial volume in the trading session totaled R$21.27 billion.

U.S

Data released in the US showed that the world’s largest economy slowed more than expected in the first quarter, with GDP recording an annualized expansion of 1.6%, but an acceleration in inflation maintained the outlook that the Federal Reserve will not cut the interest rate before September.

The core personal consumption expenditure (PCE) price index, which excludes food and energy, showed an increase of 3.7%, after an increase of 2.0% in the fourth quarter. The PCE is the Federal Reserve’s preferred measure for analyzing the behavior of North American inflation.

Given the forecast for interest rates in the US, foreigners continue to sell more than they buy shares on B3. In April, until the 23rd, the balance is negative at R$9.8 billion, according to data from B3, excluding amounts related to share offerings. For the year, the deficit reaches R$32.7 billion.

Dollar

Despite having lost strength during the afternoon, the spot dollar closed higher of 0.31% against the real, to R$ 5.1651, driven by Worse-than-expected US inflation data, which reinforced bets that the Federal Reserve will promote fewer interest rate cuts this year. In April, the US currency accumulated an increase of 2.98%.

The strong influence from abroad on assets in Brazil left domestic news in the background. The Ministry of Finance gave details about the proposal to regulate the tax reform, and the president of the Chamber of Deputies, Arthur Lira (PP-AL), stated that the definition of the rapporteur for the matter should take place this week.

In the morning, the Central Bank sold all 12,000 traditional currency swap contracts offered to roll over July maturities.

In the afternoon, the BC reported that Brazil recorded a total positive foreign exchange flow of US$ 165 million in April until the 19th, with net outflows of US$ 8.400 billion through the financial channel and inflows of 8.564 billion dollars through the commercial channel.

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