FOREX TradingCharts.com

Financial News: BRAZIL: Ibovespa Rises After Government Releases R$7 Bn

BRAZIL: Ibovespa Rises After Government Releases R$7 Bn For Ministries

11/19/2017 - 09:39:00 (RTTNews)

(RTTNews) - Ibovespa, the benchmark stock index in Brazil, rose 1.27%, closing at 73,437.27 points Friday after the Brazilian government increased by R$ 7.515 billion the release of budget resources for ministries.

The move is seen as a move by President Michel Temer to bargain the pension reform bill approval with allied parties. The Ibovespa gained 1.76% in the week.

"It's clear that the government is releasing the money to get a vote. It's a quid pro quo. Because if you enter the new year, you do not approve anything. The government has to do it now," said José Costa, an economist at Codepe Corretora.

According to DNAinvest partner Alfredo Sequeira, the commodities rise abroad helped push the index up. "Oil has risen more than 2%, which has helped Petrobras to recover, and on Tuesday stock options will expire, which has helped to buy some stocks," said Sequeira.

The locally traded U.S. dollar closed down for the second straight day (-0.48%), quoted at R$ 3.264. The greenback accelerated the low in the afternoon with an increase in oil prices and expectations regarding the approval of the pension reform bill by the Brazilian Congress.

"Today, everything has helped: commodities have been pulling out there, and there is greater hope for pension reform," said Treviso Corretora exchange manager Reginaldo Galhardo.

For the next week, Costa indicates that it is possible that the upward trend may continue in the index since the market already works with the certainty that at least part of the pension reform will be approved in Congress. Sequeira points out to a possible fall after the expiration of stock options. The Ibovespa will reopen only on next Tuesday, due to a local holiday on Monday.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


PAMPA ENERGIA: Company To Sell Assets To Trafigura For US$ 90 Million (08 min(s), 37 sec(s) ago)
(RTTNews) - Argentinean energy company Pampa Energía will sell its refining and distribution asse ...Full Story»

ECOPETROL: Fitch Affirms BBB Rating With Stable Outlook (13 min(s), 37 sec(s) ago)
(RTTNews) - Credit risk agency Fitch Ratings affirmed the Colombian state-owned oil company Ecopet ...Full Story»

VENEZUELA: Government Candidates Win Local Elections Amid Opposition Boycott (17 min(s), 37 sec(s) ago)
(RTTNews) - Pro-government candidates won more than 300 of the 335 local elections held in Venezue ...Full Story»

Latvia October Trade Deficit Widens (06 hr(s), 29 min(s), 37 sec(s) ago)
(RTTNews) - Latvia's trade deficit for October widened from a year ago as imports grew faster ...Full Story»

BCC Trims UK Growth Outlook On Brexit Uncertainty (06 hr(s), 50 min(s), 37 sec(s) ago)
(RTTNews) - The British Chambers of Commerce on Monday downgraded its growth projection citing wea ...Full Story»

Portugal Trade Deficit Widens As Imports Surge (07 hr(s), 18 min(s), 37 sec(s) ago)
(RTTNews) - Portugal's merchandise trade deficit widened in October, as exports growth was out ...Full Story»

China's Bank Lending Rises In November (07 hr(s), 57 min(s), 37 sec(s) ago)
(RTTNews) - China's bank lending increased in November despite measures taken by the governmen ...Full Story»

Turkey's GDP Growth At 6-Year High (08 hr(s), 32 min(s), 37 sec(s) ago)
(RTTNews) - Turkey's economy grew at the fastest pace in six years in the third quarter, the T ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

PAMPA ENERGIA: Company To Sell Assets To Trafigura For US$ 90 Million

12/11/2017 - 14:01 PM (RTTNews)
(RTTNews) - Argentinean energy company Pampa Energía will sell its refining and distribution asse ...Full Story>>

ECOPETROL: Fitch Affirms BBB Rating With Stable Outlook

12/11/2017 - 13:56 PM (RTTNews)
(RTTNews) - Credit risk agency Fitch Ratings affirmed the Colombian state-owned oil company Ecopet ...Full Story>>

VENEZUELA: Government Candidates Win Local Elections Amid Opposition Boycott

12/11/2017 - 13:52 PM (RTTNews)
(RTTNews) - Pro-government candidates won more than 300 of the 335 local elections held in Venezue ...Full Story>>

Latvia October Trade Deficit Widens

12/11/2017 - 07:40 AM (RTTNews)
(RTTNews) - Latvia's trade deficit for October widened from a year ago as imports grew faster ...Full Story>>

BCC Trims UK Growth Outlook On Brexit Uncertainty

12/11/2017 - 07:19 AM (RTTNews)
(RTTNews) - The British Chambers of Commerce on Monday downgraded its growth projection citing wea ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.