Consumption of classes C and D advances 9% in the 4th quarter of 2020

Brazilians spent 9% more in the 4th quarter than in the previous period, according to the Consumer Habits of Classes C and D survey by Superdigital, fintech of Grupo Santander. This increase was driven by the effect of emergency aid on the purchasing power of this segment of the population. The greatest variation recorded between the 3rd and 4th quarter was with transportation, which grew 19%, followed by restaurant (13%), clothing shops (11%), supermarket (10%), airlines (7%) and fuel (6%).

Source: 6 Minutos

Brazil’s economy needs to grow 4% in 2021 to recover from the pandemic

The Brazilian economy needs to grow at least 4% this year to offset the sharp drop in activity in 2020 due to the pandemic. The warning came from the economist of the Getulio Vargas Foundation (FGV). In the Monitor, the country’s GDP fell by 4% last year, with setbacks of 0.8% in the fourth quarter compared to the same quarter in 2019. In contrast, the indicator showed increases of 3.4% in the fourth quarter compared to the third quarter of 2020; and increase of 1% in December compared to November last year.

Source: Valor Investe

Petrobras to lose $18.5 bn in market value with intervention

Investors have begun to unload shares of Petrobras. The accumulated losses total R$60 billion ($11 bn) and are expected to reach R$100 billion ($18.5 bn) due to what they call government intervention in the company. The figures take into account the devaluation of shares on the B3 and foreign stock exchanges where the company’s ADRs are traded. On Friday 19th alone, Petrobras registered R$28.2 billion ($5.1 bn) in market value reduction in Brazil.

Source: Folha

Energias do Brasil: profit rises 40.2% in the fourth quarter of 2020

Energias do Brasil, controlled by the Portuguese EDP, recorded net profit 40.2% higher in the fourth quarter of 2020 compared to the same period of 2019, shows document sent to the market last Friday. The company calculated a profit of R$ 700 million ($129 mm) in the period. Accumulated in the year, the company saw its financial result rise 12.7%, adding R$ 1.5 billion ($277 mm).

Source: Money Times