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SÃO PAULO – Ibovespa operated close to stability on Monday afternoon. After opening the day with a drop of more than 2.2%, the index performed on a 0.04% drop around 1:45 pm. Petrobras shares, which traded all morning, showed intense volatility on Monday afternoon.
Shares have a volatile trading session and are pressured by the new hit of oil in the international market, which reached the lowest level in 20 years. The political and institutional crisis that is taking over the country after the protests on Sunday (19), backed by the President of the Republic, Jair Bolsonaro, also generates noise.
The dollar of futures for May, on the other hand, increased 0.94% to R $ 5,291. The commercial dollar rises 1.01% to R $ 5,289 on purchase and R $ 5,291 on sale.
It is worth remembering that the liquidity of today’s trading session should be compromised by the Tiradentes holiday tomorrow, with many merchants no negotiation on the vacation amendment.
US WTI oil has experienced a new hit Today and prices fell 41% to $ 10.65, the lowest price in 20 years. The Brent barrel fell 4.45% to $ 26.83 earlier this afternoon. According to CNN, the market realized that the cuts of 9.7 million barrels per day announced last week by the Organization of Petroleum Exporting Countries and its allies (OPEC +) will not be enough to cope with the fall in the global demand due to the economic impacts of the coronavirus.
According to Gabriel Fonseca, analyst at XP Investimentos, it is important to highlight the difference between the horizon of future contracts: the contract for May 2020, which expires today (20) operates in a sharp drop of -37%, to US $ 11.38 / barrel , while the June 2020 contract is withdrawn just over 9%.
According to him, the reasons for the mismatch are the lack of liquidity for the short-term contract, with the migration of investors to the contract in the following period and concerns about the overflow of oil storage capacity in the Cushing core, in Oklahoma.
Asian equity markets closed, with the exception of Shanghai, where the People’s Bank of China reduced the interest rate by 0.20 percentage points to 3.85% per year. European stock markets opened stable but declined amid concerns about oil.
In the United States, IBM publishes the balance today, while Coca-Cola, Netflix and Texas Instruments publish the results on Tuesday. But the American investor is more concerned with the reopening of the economy, which Trump announced for May 5, and with a $ 450 billion package for small and medium-sized businesses under discussion in Congress.
In Brazil, the Chamber of Deputies votes this week on the so-called “war budget” to combat the effects of the coronavirus epidemic. The House is expected to vote on the matter on Wednesday after the April 21 holiday.
Among the indicators, the Focus Report showed that economists project a 2.96% drop in the Brazilian Gross Domestic Product (GDP) in 2020. The data is much more negative than last week, when the median forecast from the experts it was a decrease of 1.96%. For 2021, however, the projection rose from 2.7% in the prior week to 3.1% now.
The expectation of the basic interest rate at the end of 2020 was reduced from 3.25% to 3% per year. For next year, the projection remained at 4.5% after three consecutive weeks of downward revisions.
Amid social isolation measures aimed at minimizing the spread of the coronavirus, expectations for inflation and growth in the country’s economy have also been lowered again. For the National Consumer Price Index (IPCA), the high projection was reduced for the sixth consecutive time, from 2.52% to 2.23%, in 2020, and also decreased from 3.5% to 3.4% in 2021.
Regarding the forecasts for the foreign exchange market, the Focus report revealed that the dollar estimate increased from R $ 4.60 to R $ 4.80 in 2020, and increased from R $ 4.47 to R $ 4.50, to late 2021.
Politics
President Jair Bolsonaro participated on Sunday in an act in favor of a military coup, the closure of Congress and the Federal Supreme Court (STF) and against quarantines to contain the coronavirus epidemic in Brazil. The act took place in front of the army headquarters in Brasilia (DF).
In the act, Bolsonaro promised “to defend democracy and freedom”, but he also said that he “would not negotiate anything” with Congress. During the weekend there were caravans against the quarantine in Brasilia, Rio de Janeiro, Salvador and São Paulo, where the participants attacked Governor João Doria (PSDB).
Doria condemned Bolsonaro’s actions and participation in the demonstration in the Federal District on Sunday. “It is regrettable that the President of the Republic supports an undemocratic act,” said the Governor of São Paulo.
In the capital of São Paulo, Brasilia, Rio de Janeiro and Belo Horizonte, pancakes were made against the president on Sunday night. The representative’s statements caused discomfort at the top of the Armed Forces.
A general heard by the newspaper The state of S. Paulo He evaluated that the place chosen for the event “could not have been worse”.
Pandemic
The number of deaths from the coronavirus yesterday exceeded 1,000 in São Paulo, reaching 1,015 in the state. In 32 days, São Paulo reached 14,267 infected people. In the Vila Formosa cemetery alone, on the eastern side of the city of São Paulo, 13 backhoes opened holes over the weekend.
The Ministry of Health reported that 115 deaths from the disease occurred in Brazil in just one day, from Saturday to Sunday. According to data from the Ministry, Brazil had 38,654 confirmed cases and 2,462 deaths last night.
Corporate news
AES Tietê rejected Eneva’s offer to buy the company on Sunday night. In a material fact, the Board of Directors of AES Tietê cited the “incompatibility” between the companies’ strategies.
Eletrobras approved the offer of R $ 232 million that Evoltz Energia made in its remaining stake in Manaus Transmissora de Energia (MTE).
In other news, the construction company MRV reported that it will pay R $ 163.9 million in mandatory minimum dividends to shareholders, related to the year of 2019. However, MRV has not yet set a date for the payment.
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