After the Ibovespa jumped 13% in less than two weeks and the dollar went from R$ 5.90 to below R$ 5.00 in one month, XP Investimentos decided to revise its scenario for the Brazilian stock exchange, raising the projection for the index. In a report, the Ibovespa’s target price was raised from 94 thousand to 112 thousand points by the end of this year, which in the current index score represents a potential increase of 16%.
The Treasury Secretary, Mansueto Almeida, said on Friday that the projection for a primary deficit of around 10% of the Gross Domestic Product (GDP) for 2020 can be considered, in the current situation, “optimistic”. The secretary also pointed out that the country’s major challenge is to continue to move forward with the fiscal adjustment agenda.
The Ministry of Mines and Energy said that the green debentures launched by decree last Friday will boost investments of more than R$170 billion ($34.7 billion) by 2029 in renewable energy sources, adding 36 thousand megawatts of installed capacity in the system. According to the MME, green debentures will give new impetus by creating more favourable financing conditions.
In yet another day of relief in international markets, the dollar closed below R$ 5 for the first time since March. The commercial dollar ended Friday (5) sold at R$4.988, with a decrease of R$0.144 (-2.8%). The price operated down during the whole session and closed at the lowest level since March 13 (R$4.813). At the minimum of the day, around 12:30 pm, it reached R$4.94.
Source: Agencia Brasil
Petrobras exported 1.11 million tons of fuel oil in May, surpassing the previous record, which had been registered in February this year, by 10%. The volume was 231% higher than that recorded in the same month of 2019.