Sao Paulo Stock Exchange eases losses and falls 0.37% after new sanctions on Russia

©Reuters. Sao Paulo Stock Exchange eases losses and falls 0.37% after new sanctions on Russia

Sao Paulo, Feb 24 (.).- The Sao Paulo stock market, which opened this Thursday with losses of more than 2.30% due to the outbreak of the war in Ukraine, closed the session with a slight drop of 0.37%. , after the new sanctions of the United States and the European Union to Russia.

The benchmark index for the Brazilian parquet, followed the improving trend of Wall Street and ended the day with 111,591 points, although it did not avoid chaining its second consecutive day in the red, after losing 0.8% on Wednesday.

After several days of decline, the US dollar rose strongly in Brazil, appreciating 2.02% and closing at 5.104 reais for purchase and sale at the commercial exchange rate, amid the escalation of the war in the this european.

It was the biggest rise in the last five months for the US currency against the Brazilian currency.

The São Paulo group suffered the biggest losses at the opening, when it lost more than 2.30%, but, as the day progressed and the Western powers announced additional sanctions on Russia, it gradually recovered.

The positive reaction to the speech by US President Joe Biden, plus the new sanctions agreed by European leaders, was immediate in the largest stock market in Latin America.

Even so, the Brazilian market had already shown itself to be more resilient than the rest of the international markets in the face of the crisis in Ukraine and, in fact, accumulated a rise of 6.5% in the annual accumulated.

This is due to the enormous flow of foreign capital that has arrived in these first two months of 2022, together with the expressive rise in raw materials.

All in all, the stock market subtracted 415 units from its score, in a session of high volatility, with a financial volume of more than 40,000 million reais (about 7,800 million dollars), in a total of 5,430,652 financial operations, according to the preliminary results.

Leading the gains on the Ibovespa were the papers of the insurer “Sul America”, with a rise of 15.2%, after the network of private hospitals D’Or announced the purchase of the company.

Among the biggest losses was the medical insurance company Qualicorp, a competitor of “Sul America” ​​and whose titles plummeted 15%.

The D’Or network (-7.6%), the BRF meat company (-6%) and the Azul airline (-5.8%), among others, also fell.

The most traded shares were the preferred shares of the state oil company Petrobras (NYSE:), which fell 2.4%, despite presenting a record net profit in 2021 the day before, and the ordinary shares of the mining giant Vale (+1.2 %).