In Brazil Ibovespa Opens Higher on Wednesday

Ibovespa opens higher on Wednesday (8) with investors attentive to economic data such as retail sales in Brazil, which rose 13.9% in May, compared to April, while economists expected a smaller advance of 5.9%.

At 09h12 (Brazil time) the Ibovespa futures contract for August was up 0.72% to 98,600 points.

Meanwhile, the commercial dollar fell 0.51% to R $ 5.3561 in the purchase and R $ 5.3579 in the sale. The future dollar for August, on the other hand, fell 0.32% to R $ 5.363.

The contamination of President Jair Bolsonaro by the new coronavirus should anticipate the emptying of the legislative agenda, according to a report in the Folha de S.Paulo newspaper.

The projection is that only provisional measures about to expire will be voted on. As of the 15th, party leaders must focus on forming candidacies at their bases.

Preliminary data show that the collection of taxes and tributes fell again in June, the fifth in a row, according to a report in the newspaper Folha de S.Paulo. This scenario of retraction in revenues further aggravates the situation of the country’s public accounts.

Previous figures from the federal government’s Siafi (Integrated Financial Administration System) point to a drop of approximately 25% so far. Tax on Industrialized Products (IPI), Import Tax (II) and taxes applied on company operations, such as Cofins, are among those that show retraction.

The plenary session of the Chamber of Deputies on Tuesday approved the basic text of the provisional measure (MP) on reimbursement and rescheduling of canceled flight tickets during the Covid-19 pandemic. The text also provides for workers in the sector to withdraw resources from the FGTS (Guarantee Fund for Seniority).

The MP highlights should be voted on this Wednesday.

The government is negotiating two amendments to the bill, which has already been sent to the National Congress, which deals with the privatization of Eletrobras. The first provides for the use of the “golden share” (a special action that gives the government some veto rights) and the creation of a fund specifically designed for investments in the North, according to a report in the newspaper “Valor Economico”.

The MRV developer recorded a sales record in the second quarter of the year, benefiting from the regularization of transfers to the Minha Casa Minha Vida (MCMV) program. The company reported that sales between April and June totaled R $ 1.81 billion, up 37.4% compared to the same period in 2019. The number of units traded was 11,479, up 33.7%.

And Camil posted net income of R $ 109.5 million in the first quarter of 2020, more than double the R $ 49.8 million for the same period in 2019.

Reviewer overview

In Brazil Ibovespa Futuro Opens Higher on Wednesday - /10

Summary

Ibovespa Futuro opens higher on Wednesday (8) with investors attentive to economic data such as retail sales in Brazil, which rose 13.9% in May, compared to April, while economists expected a smaller advance of 5.9%.

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