The Sao Paulo Stock Exchange reduces losses in the middle of the session pending in Ukraine

©Reuters. The Sao Paulo Stock Exchange reduces losses mid-session pending Ukraine

Sao Paulo, Feb 24 (.).- The Sao Paulo stock market, with a partial drop of 1.86%, reduced this Thursday the heavy losses with which it opened its operations and which exceeded 2.30% after the start of the invasion of Ukraine by Russia, while the dollar was still soaring mid-session.

The Brazilian square began the session with a drop of more than 2.30% of the index, its main benchmark, and then began to gradually reduce its losses to stand at 109,867 points in the middle of the trading session.

In the foreign exchange market, the US dollar increased its value and appreciated by 2.50% in the middle of the session, quoted at 5.128 reais for purchase and 5.129 for sale at the commercial exchange rate, after opening the day with gains of 1.89% and after ending the day before at its lowest level since the end of June last year.

The shares of the hundred-year-old insurance company Sul América led the biggest gains on the stock market, with an increase of 12.02%, after the D’Or hospital network announced its purchase, while the medical insurance administrator Qualicorp, which operates just the line of that segment of South America, they plummeted 14.77%.

Common shares of major Brazilian oil companies rose after the open: 3R Petroleum rose 5.48%; PetroRio 4.42% and the state-owned Petrobras (NYSE:) 3.58%.

The largest stock market in Latin America thus reacted negatively to the military intervention ordered by the Russian president, Vladimir Putin, on Ukraine during the early hours.

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