São Paulo – The São Paulo Stock Exchange (Bovespa) has closed this Monday (31st) up 1.3%, and was up 7.05% in March. It was the best monthly performance for the Bovespa Index since January 2012, and the first positive result since October last year. At closing time, the Ibovespa index stood at 50,414 points.
According to information from news agency Reuters , the Ibovespa increased in March because foreign investors sought to capitalize on low stock prices. As of the last 27th, international buyers invested R$ 2.2 billion on Bovespa. Despite the good performance in March, which according to Reuters , was also influenced by speculation surrounding the Brazilian presidential elections in October, the Ibovespa index is still down 2.12% year-to-date.
Economists believe the performance in April should not match that of March, because the shares traded over the past few days have appreciated again.
As of closing time today, the US dollar was selling for R$2.2694, up 0.589% from last Friday (28th). In spite of the increase seen this Monday, the dollar was down 3.22% in March, the highest monthly depreciation in six months. Year-to-date, the US dollar is down 3.74%.
*Translated by Gabriel Pomerancblum
