Ibovespa Hits 110,000 and Set New Record

The old record was November 7

São Paulo

The Brazilian stock exchange hit 110 thousand points for the first time in history on Wednesday (4). The Ibovespa rose 1.23% to 110,300 points. The increase is the result of the positive overseas bias, after Bloomberg reported a trade agreement between China and the United States is close, and also reflects the 0.6% growth in GDP (better gross domestic product) in the third quarter.

The previous record was November 7, when Ibovespa closed above 109,000 points for the first time.

Ibovespa (Foto: Renato S. Cerqueira/Futura Press/Folhapress) - Futura Press/Folhapress

In Brazil, the Ibovespa was driven by Petrobras, whose preferred shares (most traded) rose 2.3%. The appreciation of the company follows the rise in the barrel of oil. Brent rose 3.6% to $ 63 ($ 264.60) as raw material inventories declined in the United States.

The state-owned divestment plan also encouraged investors. On Wednesday, the first presentation of Petrobras' 2020-2024 Strategic Plan to analysts and investors took place in New York.

According to the Executive Director of Exploration and Production, Carlos Alberto Oliveira, the company could put up for sale more maritime oil fields in production, such as stakes in the Marlim and Papa-Terra fields, both in the Campos Basin. 

Translated by Kiratiana Freelon

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