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SAO PAULO – The Ibovespa falls again on Wednesday (15) under the pressure of blue chips after the International Energy Agency (IEA) predicts a record drop in demand for oil due to the coronavirus. The Brent barrel falls 5.41% to $ 28.00 and the WTI barrel falls 0.75% to $ 19.96. However, the shares of companies in the retail and education sectors increased, limiting losses on the main B3 stock index.
Shares of Magazine Luiza (MGLU3), Via Varejo (VVAR3), Lojas Americanas (LAME4), Lojas Renner (LREN3), Yduqs (YDUQ3) and Cogna (COGN3) rose between 1.9% and 9%. Read the highlights from this trading session here.
In China, Banco Popular cut its interbank interest rate from 3.15% to 2.95% per year, which was seen as a sign that the Chinese economy will need more stimulus to resume sustainable growth. .
Another focus of pessimism was the 4.5% decline in retail sales in the United States in March. The drop was greater than the expectation of a 2.50% drop in the market. In addition to retail sales, the Empire State Manufacturing indicator registered a much larger drop than estimated. The indicator was -78.2 compared to an estimate of -35 in April.
Finally, industrial production in the world’s largest economy also disappointed, with a contraction of 5.4% in March, compared to an average expectation of a 4% decline. In the previous month, production had grown 0.5%. Installed capacity utilization fell from 77% to 72.7% last month.
At 3:24 pm (Brasilia time), the Ibovespa registered a 0.72% drop, to 79,344 points. The day before, the index “hit the post” and closed at 79,918 points after spending most of the trading session above 80,000 points.
The dollar of futures for May, on the other hand, increased 1.53% to R $ 5,246, while the commercial dollar increased 0.91%, to R $ 5,236 on purchase and R $ 5,238 on sale.
In the future interest market, the January 2022 ID increases nine basis points to 3.72%, the January 2023 ID rises six basis points to 4.77% and the January 2025 ID becomes a fall of one basis point to 6.30%.
Here, the expectation remains that the Senate will vote on the “war budget.” The deliberations take place amid reports that tensions have risen between the President of the Republic, Jair Bolsonaro and the Legislature, amid disagreement over the size of aid to be given to states.
According to the newspaper The state of S. Paulo and the panel column Folha de S. Paulo, the Minister of Health, Luiz Henrique Mandetta, warned his team that he should be fired. He would have admitted a strategic error when exposing the government in an interview with Fantastic and should try in the next few days to get out of the crisis. Provisionally, number 2 in the portfolio, João Gabbardo, would take his place, allowing for a less controversial exchange than the appointment of Osmar Terra (MDB-RS) to the position.
Gabbardo has a good relationship with the Minister of Citizenship, Onyx Lorenzoni, and campaigned for Bolsonaro in 2018.
Coronavirus in the world
European stocks are trading at a low level, with negative news about the Covid-19 expansion in the UK, where the disease killed more than 10,000 people.
Furthermore, risk aversion increases as fears about the global economic outlook once again weighed on investor sentiment after the International Monetary Fund (IMF) made bleak predictions for this year, due to the impact of the coronavirus pandemic. . The IMF projection is that there will be a 3% drop in the world Gross Domestic Product (GDP) due to the pandemic.
In the United States, New York futures are negative.
Politics
Still on the political radar, the vote on the Proposed Amendment to the Constitution (PEC) of the “war budget” in the first round in the Senate is scheduled for Wednesday. “The Senate has the right to change the PEC,” said Mayor Rodrigo Maia (DEM-RJ), about the amendment already approved by the deputies, which allows the Central Bank to buy public and private bonds and facilitates government spending against the coronavirus. . If the text goes to the Senate with changes, it will have to go back to the House.
In the early hours of today, the plenary of the Chamber of Deputies approved Provisional Measure 905/19, which creates the Green and Yellow employment contract. The measure has yet to be reviewed by the Senate and will expire on 20.
Among other points, the text offers incentives for the first job, with the reduction of labor charges; considers an accident at work on the homework route only if it occurs during the employer’s transportation; and it places the collective agreements above the jurisprudence and the general visions of the Superior Labor Court (TST).
Pandemic
The increase in coronavirus cases in the state of São Paulo means that the ICU beds in the rooms reserved for patients with Covid-19 occupy around 80% of the capacity in some hospitals in the city of São Paulo, reports the Folha de S. Paulo. Yesterday there were 1,042 people in intensive care.
São Paulo registered a new record of deaths from the coronavirus, 87 in 24 hours, in total, there were 695 deaths in the state last night. The Santa Maggiore Higienópolis Hospital occupies 83% of the ICU beds, followed by the Hospital das Clínicas (77%), the Municipal Hospital Tatuapé (77%), the Mandaqui Hospital Complex (76%) and Santa Casa (71%) ).
According to the infectologist David Uip, the increase shows that the peak of the pandemic in São Paulo has not yet reached its peak. “The system is being tested at its limit,” he said.
Corporate news
Gol said it had reached an agreement to be financially compensated by the American manufacturer Boeing, due to problems with the 737 MAX aircraft: since the beginning of 2019, the company had seven aircraft of this model out of service, when flights with the 737 MAX were banned in most countries after accidents. According to Gol, the deal is confidential, but the company canceled 34 of the 129 737 MAX orders it placed with Boeing.
In other news, the Minas Gerais judiciary yesterday ordered the blockade of R $ 50 million by the mining company Vale, as a guarantee of “possible losses resulting from the removal of people residing in an area of possible floods, in case of rupture of the Doutor Dam. ” . Vale must also pay 1 minimum wage for each adult, half a minimum wage for each adolescent, and a quarter of a minimum wage for each child removed from the site, until final resettlement.
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