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Financial News: BRAZIL: Embraer, Petrobras, Itaú Lead Ibovespa To Highest

BRAZIL: Embraer, Petrobras, Itaú Lead Ibovespa To Highest Level In Two Months

12/21/2017 - 22:26:00 (RTTNews)

(RTTNews) - The Ibovespa closed up 2.41%, at 75,133.43 points, boosted by strong earnings from Embraer shares, after news that the company may be making an association with Boeing.

Weighted shares such as those of Petrobras and Itaú Unibanco also had significant appreciations, amid a positive external scenario. This is the highest closing level since October 27 (75,975.71 points).

"We have seen a recovery in blue-chips and price recovery, with a favorable outlook coming back amid an absence of news that can not cheer investors," said H. Commcor desk manager Ari Santos.

Embraer shares (+25.59%) skyrocketed and posted the highest Ibovespa gains. Petrobras shares (+4.07%) also appreciated significantly, after the company announced its business plan through 2022. The good mood was seen in bank stocks, especially those of Itaú Unibanco (+4.10%).

In Santos' assessment, only a terrible negative news could change the good mood of the market in the last trading sessions of this year, despite lower trading volume.

The locally traded U.S. dollar rose 0.45%, closing at R$ 3,309, with investors taking a more cautious stance as the end of the year approaches and rumors that the S&P credit risk rating agency could soon change the Brazilian credit note.

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