Day: June 8, 2020

XP raises Ibovespa projection to 112 thousand points in 2020

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%.

Mansueto sees the projection of a primary deficit at 10% of GDP

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.

Green debentures will generate $34.7 bn for clean energy

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.

Dollar closes below R$5 for the first time since March

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.