This Friday, 11th February, the Brazilian index, IBOVESPA resisted the pressure of international markets and ended its fifth week at a high, closing at 113,572 points, and at a 1.83% rise. The Brazilian market even hovered at 114,000 points, but eventually retreated on news that Russia could invade Ukraine at any time.
Tensions between the two countries have been monitored over the past weeks, making price, especially, in the commodities market, but reached an apex with information that President Vladimir Putin would have already ordered his troops to invade the neighbouring country.
Vale (VALE3) closed 2.02%. Other blue chips had reduced gains because of the conflicts on the Ukrainian border but eventually closed at highs. Itaú (ITUB4) rose 5.91% and Petrobras (PETR3, PETR4) was also among the highest climbers, with PETR3 up 4.29% and PETR4 advancing 4.07%. Oil prices rose by almost 5%. In the after-market, a barrel of Brent advanced 4.09%, at US$95.15 while WTI was up 4.52%, at US$93.94.
The Stock Exchanges in NY accentuated losses. Dow Jones closed 1.43% down, the S&P 500 fell 1.90% and the Nasdaq plunged 2.78%.
Written by: Bruna Zarzur
Edited by: Anna Kissajikian