The Sao Paulo stock market loses 0.8% despite the advance of the electricity sector

©Reuters. The Sao Paulo stock market loses 0.8% despite the advance of the electricity sector

Sao Paulo, Feb 23 (.).- The Sao Paulo stock market fell 0.78% this Wednesday, amid geopolitical tensions due to fear of a Russian invasion of Ukraine and despite the good results that the sector posted. electric.

The benchmark index of the parquet closed with 112,007 basis points, in a session in which it returned to the red after advancing 1.04% on Tuesday.

In the foreign exchange market, the US dollar depreciated once again, falling 0.94% and closing quoted at 5.00 reais for buying and selling, at the Brazilian commercial exchange rate.

That is the lowest value of the greenback in Brazil since the end of last June.

Financial operators are still aware of the escalation of tension around Ukraine, which once again brought down the main Wall Street indices.

In the Brazilian scenario, the vote on the tax reform was postponed once again in a Parliament committee.

The forecast now is that it will only be analyzed after the carnival, which will be between the end of February and the beginning of March, although most of the public celebrations are canceled due to covid-19.

All in all, the Sao Paulo stock exchange subtracted 884 units from its accumulated score.

The traded volume reached around 30,000 million reais (about 6,000 million dollars), in a total of 4,166,702 financial operations.

It was a positive session for the electricity sector, with the preferred and ordinary papers of the state group Eletrobras, which is in the process of being privatized, among those that appreciated the most, with increases of 3.3% and 2.1%, respectively.

This is due to the approval, on Tuesday night, by the shareholders of the electricity giant of the proposal to privatize the company through a process of capitalization on the stock market, in which the Brazilian State will not participate.

On the contrary, the titles of the oil company 3R Pretroleum fell sharply (-12.5%), after results that disappointed the market; Banco Inter (-12.1%), the travel agency CVC Brasil (-6.3%) and the Suzano paper mill (-6.1%), among others.

The most traded shares were the preferred shares of Petrobras (NYSE:) (+1.4%) and the ordinary shares of the Brazilian mining company Vale (-1.0%).