FOREX TradingCharts.com

Financial News: BRAZIL: Minister Resigns And Boosts Stocks As Pension

BRAZIL: Minister Resigns And Boosts Stocks As Pension Reform Hopes Rise

11/13/2017 - 21:25:00 (RTTNews)

(RTTNews) - After falling for two consecutive sessions, the Ibovespa closed up 0.43% Monday at 72,475.17 points, reversing an earlier decline late in the afternoon after the minister of Cities, Bruno Araújo, presented his resignation.

Traders believe that the resignation is one of the many cabinet changes that the Brazilian government could use to boost Congressional support for the pension system reform bill.

President Michel Temer could replace Araújo, who belongs to the PSDB party, with someone from another political party that could be more prone to support the pension reform in exchange for the cabinet job.

"The minister's departure leaves room for the government to please allies and get more votes to approve the pension reform bill," said H. Commcor operations manager Ari Santos.

Santos also said that the president's speech, at around 5 pm local time, was also emphatic when he spoke about the pension reform bill, reinforcing that the government is willing to approve it.

During most of the afternoon, the Ibovespa traded at a slight fall, with investors cautious in the absence of political news in a week off in the House of Representatives due to a national holiday in Brazil. The external scenario has also inspired caution, with investors tracking the path of the tax reform bill in the United States.

DNAInvest's partner, Leonardo Ramos, also pointed out that investors are waiting for data from China, with industry and retail indicators that may affect iron ore's prices tomorrow. Vale's shares (+1.22%) closed higher on Monday.

The locally traded U.S. dollar, meanwhile, opened volatile but traded higher against the Brazilian real. The greenback closed at R$ 3.298, a 0.51% increase, tracking the foreign exchange markets abroad, where the U.S. dollar appreciated against the main global and emerging currencies.

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


Cash Remains Preferred Payment Option In Eurozone: ECB Study (04 hr(s), 02 min(s), 24 sec(s) ago)
(RTTNews) - Euro zone consumers still prefer cash to other options for paying for their purchases, ...Full Story»

ECB's Coeure Warns Against Fake Data (04 hr(s), 20 min(s), 24 sec(s) ago)
(RTTNews) - Fake statistics are equally threatening to the euro area economy as fake news is to po ...Full Story»

Eurozone Economy Set To Extend Surprisingly Positive Run In 2018 (04 hr(s), 31 min(s), 24 sec(s) ago)
(RTTNews) - As the outlook for consumption is improving, the Eurozone economy is on its way to ext ...Full Story»

Swiss Industrial Production Expands In Q3 (06 hr(s), 11 min(s), 24 sec(s) ago)
(RTTNews) - Switzerland's industrial production and turnover increased notably in the third qu ...Full Story»

UK Mortgage Approvals At 13-Month Low (06 hr(s), 20 min(s), 24 sec(s) ago)
(RTTNews) - UK mortgage approvals declined to a 13-month low in October, data from UK Finance show ...Full Story»

German Business Confidence At Record High (06 hr(s), 19 min(s), 24 sec(s) ago)
(RTTNews) - Germany's business confidence strengthened to a new record in November on optimist ...Full Story»

Turkey Capacity Utilization Rises; Business Confidence Weakens (06 hr(s), 44 min(s), 24 sec(s) ago)
(RTTNews) - Turkey's capacity utilization rate increased for the fourth straight month in Nove ...Full Story»

Poland Jobless Rate Falls More Than Expected In October (07 hr(s), 03 min(s), 24 sec(s) ago)
(RTTNews) - Poland's unemployment rate decreased more-than-expected in October, figures from t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Cash Remains Preferred Payment Option In Eurozone: ECB Study

11/24/2017 - 09:31 AM (RTTNews)
(RTTNews) - Euro zone consumers still prefer cash to other options for paying for their purchases, ...Full Story>>

ECB's Coeure Warns Against Fake Data

11/24/2017 - 09:13 AM (RTTNews)
(RTTNews) - Fake statistics are equally threatening to the euro area economy as fake news is to po ...Full Story>>

Eurozone Economy Set To Extend Surprisingly Positive Run In 2018

11/24/2017 - 09:02 AM (RTTNews)
(RTTNews) - As the outlook for consumption is improving, the Eurozone economy is on its way to ext ...Full Story>>

Swiss Industrial Production Expands In Q3

11/24/2017 - 07:22 AM (RTTNews)
(RTTNews) - Switzerland's industrial production and turnover increased notably in the third qu ...Full Story>>

German Business Confidence At Record High

11/24/2017 - 07:14 AM (RTTNews)
(RTTNews) - Germany's business confidence strengthened to a new record in November on optimist ...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.