Ibovespa, the benchmark stock index in Brazil, closed higher for the second trading session in a row (+0.90%), at 84,290.57 points Thursday, tracking another positive day abroad in the face decreasing fears of a more aggressive interest rate hike in the United States. The calm domestic scenario also helped the index to recover, with strong gains for Vale and retailer shares.
“It seems that the adjustment of the markets has already happened and, despite some caution, investors are going back to analyzing the scenario more rationally,” said Rog?rio Freitas, an analyst at Floren?a Investimentos.
Vale’s (+3.17%) shares were one of the positive highlights, reflecting stronger iron ore prices abroad. The retailers’ shares also showed strong increases, with those of Magazine Luiza (+5.82%) recording the highest appreciation of the index.
For the next few days, analysts at Magliano Corretora say that the market seems to “want to keep on recovering,” although they noticed that the stock markets are rebounding fast this week, which may still indicate volatility ahead.
The locally traded U.S. dollar closed higher against the Brazilian real, correcting yesterday’s strong devaluation. As a result, the greenback rose 0.24%, quoted at R$ 3.236.