Day: March 25, 2020

Trade confederation estimates losses of $ 5 billion

The National Confederation of Trade in Goods, Services and Tourism (CNC) estimates that retailers in São Paulo, Rio de Janeiro, Minas Gerais and Brasília suffered losses totaling R $ 25.3 billion ($ 5 bn) due to the coronavirus. The regions account for about 52% of the annual revenue of the sector. In São Paulo, for example, the loss in sales volume will reach R $ 15.67 billion ($ 3 billion) for the period from March 20 to April 5, which would represent a decrease of 29.9% in relation to the usual revenue of the sector.

Itaú BBA cuts Ibovespa projection to 94,000 points

Itaú BBA cut its projection for the Ibovespa at the end of 2020 from 132 thousand points to 94 thousand points following the path of other financial institutions such as Morgan Stanley, which in the last week reduced its forecast for the main B3 index of 125 thousand points to 85 thousand points. If the scenario were to materialize, the revised value would correspond to an appreciation of 35.27% over the current benchmark level.

Stock exchange rises 10% and dollar falls on recovery day

With the announcement of emergency measures in Brazil and abroad, the financial market had a day of truce. The stock exchange rose almost 10% and the dollar closed below R $ 5.10. The Ibovespa index, of B3, the Brazilian Stock Exchange, closed this Tuesday at 69,729 points, with an increase of 9.66%. The index, which reached its highest level in a week, operated at an increase of over 10% during almost the entire session, following exchanges abroad.

Tesouro Direto has the worst result in nine months

Tesouro Direto, a program for the purchase and sale of public securities over the internet aimed at individual investors, recorded a net redemption (sales less withdrawn) of R $ 960.6 million ($190 million) in February, the worst result since May 2019, when the result had negative by R $ 4.2 billion ($ 840 million). At that time, however, the sales volume resulted from a maturity of the 2019 IPCA + Treasury paper.

Gol reduces air network to 50 daily flights

Gol announced that due to the pandemic of the new coronavirus (covid-19) in Brazil and worldwide, that between March 28 and May 3, it will keep in operation only the essential network of 50 daily flights, connecting all the capitals of the Brazilian states from the international airport of São Paulo, in Guarulhos (GRU).