Brazil Wire Reporting on Today's Action
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Market Status at 11h35 am ET
Local stock exchanges finished today's trading lower, mostly as a result
of the Dow's shedding 76 points due to profit taking. Not even Japan's
stock exchange recuperation, which closed higher by 1.74%, helped
local bourses regain momentum. The Ibovespa index to closed down
0.85% at 11,847 points (Ibovespa/US$ closed lower by 0.80% at
3.785 points). Trading volume was at US$712.458m with some
38.065bn shares having changed hands. The Rio de Janeiro Stock
Exchange Index (IBV-RJ) closed lower by 0.23% at 42,138 points
(IBV/US$ closed down 0.18% at 1.461 points). Among the blue chips,
Telebr s PN/US$ ended down 1.33%. Eletrobr s ended lower by
1.58%. Petrobr s PN/US$ finished up 0.76%. CVRD PN/US$ closed
lower by 1.72%. Usiminas finished up 0.15%. CSN PN/US$ ended
lower by 1.12%.
The US commercial dollar opened the day higher on hopes of a
mini-adjustment only to recede after expectations of a stronger dollar
inflow and the fact that the Central Bank, once again, did not intervene
in the market. According to the BC, the market itself absorbed the
currency excess. At roughly 4pm ET, the forex market was registering a
surplus of US$378m, with financial inflow of US$350m, above an
outflow of US$114m. In the trade account, exports were totaling
US$251m and imports were at US$109m.
In relation to the floating dollar segment, banks began the day working
with an accumulated deficit of US$210m (-US$ 45m yesterday).
However, they later discovered that the BC's computer system
(Sisbacen) had already registered an outflow of US$457m. Even though
the correct figure is not as of yet known, the confusion may have been
originated by a recently approved operation, in which resources from
investment funds may now be transferred to the foreign capital funds.
The market was expecting a correction of these figures by the end of
day. However, at roughly 4 pm ET, the BC had not yet disclosed any
information regarding the matter.
The US commercial dollar Ptax ended at R$1.1383/R$1.1381 from
R$1.1388/R$1.1380 registered last Monday.
(By Marcos Viesi) |
