São Paulo – The Brazilian financial market opened April on the up. Ibovespa, the main index of the São Paulo Stock Exchange, closed Wednesday (1st) on the up of 2.29% at 52,321 points, the highest level in four months. A loan secured by Petrobras in China, the audience in the Senate of Finance minister Joaquim Levy, declarations of president Dilma Rousseff on Tuesday (31st) and even the stocks of other companies at the stock-market impacted the performance. The dollar dropped in the first day without foreign currency auctions since 2013. <\/p>\n
Petrobras announced the signing of a US$ 3.5 billion loan with China Development Bank (CDB) and said that the goal is to expand the cooperation between the two institutions. The announcement caused the oil company stock to appear among the biggest appreciations in the Ibovespa this Wednesday. Preferred shares closed trading up 5.45% at R$ 10.26 (US$ 3.25). Common stocks went up 5.53% to R$ 10.11 (US$ 3.20). <\/p>\n
Other stocks went up, such as those from PDG construction company, Oi telecommunications, and Eletrobrás, from the power energy sector. Some of the reasons for the stocks to close on the up were the declarations of president Dilma Rousseff to Bloomberg<\/em> stating that Brazil will make the cuts and adjustments needed to reach the primary surplus of 1.2% of the Gross Domestic Product (GDP). This is the savings done by the country to pay interest on debt. <\/p>\n Besides Dilma, Joaquim Levy, on Tuesday, managed to have the Senate postpone the vote on a project that changes the debt indexers of states and counties. Until 2016, the federal government will change the way of debt correction of the other federation unities. <\/p>\n The dollar dropped 0.56% in the first day without foreign currency auction, which were being done by the Brazilian Central Bank since the end of 2013 to contain the rise of the North American currency, and closed the day at R$ 3.174. <\/p>\n *Translated by Sérgio Kakitani<\/strong><\/p>\n