Ibovespa index rises 0.51% on Vale shares
Brazil’s main stock index, the Ibovespa, rose 0.51% on Monday to 171,907 points, extending its winning streak to four sessions. According to The Rio Times, the main support for the index came from shares of mining company Vale, which gained 2.80% amid favorable sentiment in commodity markets.
Vale supported the index
At the start of trading, the Ibovespa was declining, but later recovered and ended the session in positive territory. During the day, the index ranged from 169,330 to 173,109 points, closing near the 171,000-point level.
The rise in Vale’s share price outweighed a 6.71% decline in shares of petrochemical company Braskem. Braskem shares fell following new reports on the progress of the company’s judicial restructuring. According to the publication, trading was volatile and depended primarily on corporate news, while there was no distinct macroeconomic factor driving the market.
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Brazilian real exchange rate
The Brazilian real weakened slightly against the US dollar. The USD/BRL exchange rate stood at 5.1531 reals per dollar, while the US currency strengthened by 0.27%. The currency pair remained within its recent range.
Other Latin American markets were mostly higher: Mexico’s S&P/BMV IPC gained 0.57%, Chile’s S&P IPSA rose 1.76%, Argentina’s S&P Merval added 2.81%, and Colombia’s MSCI COLCAP increased 2.09%. Meanwhile, Peru’s BVL S&P Peru declined by 0.17%.
