Day: June 3, 2020

New vehicles sales rise 11.6% in May

In May, the second month of dealerships closed in several states, sales totalled 62.2 thousand units, an increase of 11.6% in relation to April, which registered 55.7 thousand licenses, according to a balance released by the National Distribution Federation of Motor Vehicles (Fenabrave). In comparison with May last year, however, sales still plummeted, with a 74.6% decrease.

BNP Asset expects 1.5% Selic rate in August

The Central Bank is expected to make two additional 0.75 percentage point reductions and bring the Selic rate to 1.5% in August, says BNP Paribas Asset Management chief economist Tatiana Pinheiro. The manager’s base scenario comprises a fall of 7.5% in the Gross Domestic Product (GDP) this year and a growth of only 2.2% in 2021.

Brazilian oil production advances 13.6% in April

Oil production in Brazil in April totalled 2.958 million barrels per day, an increase of 13.6% compared to the same month of the previous year and a slight decrease of 0.5% in comparison with March, according to a bulletin from the ANP. Considering the drop in the monthly comparison, it is observed that the impact of the production break in 38 oil and gas fields, due to the COVID-19 pandemic.

Norte Energia, concludes issuance of $132 mm in debentures

Norte Energia, a group that brings together the partners of the Belo Monte hydroelectric plant, concluded this Tuesday an issue of R$700 million ($132 mm) in infrastructure debentures to strengthen its cash in the midst of the crisis caused by the coronavirus pandemic. The transaction was the first with debentures by the company, whose main shareholders are subsidiaries of the state-owned Eletrobras,

Ibovespa exceeds 91 thousand points with optimism

The Ibovespa closed sharply higher on Tuesday, surpassing 91 thousand points, amid risk appetite in an environment of high global liquidity. The Ibovespa closed up 2.74%, at 91,046.38 points, a level it had lost in March. The financial volume totalled R$29.63 billion ($5.45 bn).