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    In the week, dollar slids and stock market goes up

    The North American currency ended the Friday at BRL 3.707, while the Ibovespa reached 81,435 points, its highest point since May 22.

    From the NewsroomBy Updated:1 Min Read
    Movement on the Bovespa in Sao Paulo, Brazil, on 18 January 2018, where the auction of the lines 5 and 7 of the Metro was scheduled for tomorrow. The city councilors Sâmia Bomfim and Antônio Vespoli, of PSOL, got the court to suspend the auction, scheduled for Friday, B3, lines 5-Lilacs and 17-Gold Metrô. In the decision, Judge Adriano Marcos Laroca, of the 12 th branch of Public Finance, says that the technical requirements demanded only allowed the participation of two national private companies - CCR and Invepar. "It is perceived that the State of São Paulo opted for but also unconstitutional and / or illegal, and at the same time undemocratic, since it removes from the Legislative Branch the definition of the minimum rules of the competition, to grant the public service in question to the private initiative, "he wrote. The State of São Paulo, responsible for the auction, is appealing. (Photo by Cris Faga/NurPhoto)

    São Paulo – The dollar ended this Friday (3) at BRL 3.707, a drop of 1.32% over the previous day. In the week, the North American currency slid 0.29%. It was the fifth consecutive week of devaluation for the currency. In this period, it dropped 4.39%.

    The Ibovespa, the main index of the São Paulo Stock Exchange (Bovespa), ended this Friday going up 2.26% to 81,434.98 points. It’s the highest point since May 22. The result was impacted by the announcement that Petrobras’ profit in Q2 surpassed BRL 10 billion (USD 2.81 billion). The company’s preferred shares went up 3.43% with common shares climbing 3.48%. In the week, the Ibovespa rose 1.96%.

    Translated by Sérgio Kakitani

    Cris Faga/NurPhoto/AFP

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