The companies listed on the main index of the Brazilian stock exchange, B3, lost R $ 1.187 trillion ($ 220 bn) in market value in March, the month in which Bovespa recorded its biggest drop since August 1998. In the accumulated value of 2020, the 281 companies publicly traded companies lost R$ 1.561 trillion ($ 312 bn), according to Economatica data.
BRF announced the hiring of R $ 1.4 billion ($280 mn), between March 25 and 31, in credit lines with banks with a term of one year, shows a statement sent to the market on Tuesday (31). “This initiative aims to preventively increase its liquidity level during this period of great volatility”, says the company.
Petrobras initiated the process for the sale of its remaining 10% stake in the Nova Transportadora do Sudeste (NTS) gas pipeline company, the oil company said. In addition to Petrobras’ 10% stake, NTS has Brookfield Brasil, with 82.35%, and Itaúsa, with 7.65%, as other partners. In 2016, the state-owned company sold a 90% stake in NTS, for more than $ 5 billion
The export of soy from Brazil in March may reach a historical record for all months, if the volumes of shipments for the period between the 29th and 31st are confirmed. In the accumulated for March, soybean exports from Brazil totalled 11.5 million tons. March shipments from Brazil are expected to help alleviate a shortage of raw materials in China, the largest global importer of soybeans, after Brazilian exports in February were relatively weak.
The Ibovespa finished the month, consolidating a 29.91% drop in March, the worst month since August 1998, when it fell 39.55%. In the quarter, the performance of B3’s main trigger index was the worst in the entire history of the Stock Exchange. This period was marked by six circuit breakers tripped since they were caused by voltages due to the coronavirus pandemic.
Eneva stated that it will raise the amount of R $ 2.75 billion for the operation with AES Tietê through bank financing until it is possible to refinance the amount under better conditions in the debentures market, after the coronavirus pandemic. The company opted to use traditional credit lines, maintaining the loans until the conditions of the Brazilian capital market become more attractive.
Petrobras’ board of directors decided to join the initiative of the executive board and will postpone the remuneration of its members by 30% during the second quarter. The payment of this percentage will be made in September. The Board of Directors’ decision is in line with the series of measures adopted by Petrobras to reduce costs and preserve cash in the current scenario of uncertainties.
Hypera’s board of directors approved the emission of R$ 3.5 billion ($ 700 million) in debentures. According to the document, the release will be made in two series, R$ 2.4 billion ($ 480 million) of the first, with a six-year term, and R$ 1 billion ($200 million) of the second, which will have a six-year term as of date of issue.
The Brazilian economy will retract at least 0.4% this year as a result of the coronavirus pandemic, estimates the Ipea (Institute of Applied Economic Research), which works with three scenarios for GDP, depending on the confinement period imposed by the disease. In the worst-case scenario, which foresees three months of confinement, the economy would contract by 1.8% in 2020. Ipea projected, before the Covid-19 pandemic, an expansion of 2.1% in economic activity.
The trade dollar closed up 1.48%, to R$ 5.182 on sale, in the second consecutive advance. It is the second highest face value since the creation of the Real Plan. The Ibovespa, the main index of the Brazilian stock market, also ended up 1.65%, at 74,639.48 points. Last week, the Exchange accumulated high gains of 9.48%.