Stock Exchange closes higher beating historic milestone

published: Jan 09, 2019 06:40 PM, last modified: Jan 10, 2019 06:17 PM

Dollar kept its downward trajectory; expectations about pension reform and oil prices influenced the result

Stock Exchange closes higher beating historic milestone

São Paulo Stock Exchange (B3) surpassed the 92 thousand points historic milestone - Photo: B3/Facebook Reproduction

This Wednesday (9), the São Paulo Stock Exchange (B3) surpassed its historical milestone of 92 thousand points. Main indicator of the Brazilian stock market, Ibovespa closed the day at a record score: 93,613, up 1.72%.

Seen as an instrument that gauges investor confidence in the country, the indicator's score is measured by Ibovespa, made up by stock quotes of the major publicly listed companies.

Positive expectations about the pension reform, proposal being drafted by the federal government, influenced the day's performance. In addition, oil price recovery also led to positive impacts on the index.

Strengthening of the real

While the stock market has kept an upward trend, the US dollar continues to drop in relation to the Brazilian real. Also on Wednesday, the US currency closed at R$ 3,684 for sale, dropping 0.89%.

The stronger Brazilian real in relation to the dollar is also an indicator that the Brazilian economy is strengthening and that optimism among foreign investors is increasing.