Day: May 6, 2020

Fitch cuts to “negative” outlook for Brazil’s rating

The rating agency Fitch Ratings reported on Tuesday that it had revised the outlook for Brazil’s sovereign credit rating to “negative”, citing a deterioration in the country’s economic and fiscal scenario and renewed political uncertainty. Doubts about the duration and intensity of the spread of the coronavirus in Brazil were also raised.

B3 gained 400,000 new investors

The Brazilian stock market has gained 400,000 new investors in the past two months, said B3 CEO Gilson Finkelsztain. “This was unthinkable a few years ago, to increase the flow of investors to the stock exchange in a time of crisis”, pointed out the executive. The base of the Brazilian stock exchange now has 2.3 million accounts, said Finkelsztain.

With pandemic, Brazilian industrial production falls 9.1%

Brazilian industrial production fell 9.1% in March, in comparison with February, as announced on Tuesday (5) by the Brazilian Institute of Geography and Statistics (IBGE), showing a strong impact of the coronavirus pandemic and isolation measures sector and economic activity. This is the worst result for March in the historical series of the survey, which started in 2002.

Ibovespa rises with news about Covid-19

The Ibovespa closed higher on Tuesday, after two consecutive sessions of losses, with the second trading session of May on the São Paulo stock exchange supported by a more positive external news about treatments against Covid-19. The Ibovespa rose 1.22% to 79,839.25 and the financial volume totalled R$ 18.4 billion ($ 3.4 billion).