The Ibovespa came to operate at a slight increase on Thursday, fluctuating above 88 thousand points momentarily, which has not happened since March, mainly following the improvement of Petrobras shares in the wake of the high oil prices abroad.

05/05/2016 REUTERS / Paulo Whitaker

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On Wall Street, the indexes accelerated gains this afternoon, which endorsed the reaction on the São Paulo stock exchange, as positive expectations for the resumption of economies prevailed over increased tensions between the United States and China.

The Ibovespa subsequently dropped again, but only moderately, with the index still far from the session lows.

At 15:26, the Ibovespa fell 0.44%, to 87,562.22 points. The financial volume was 16.984 billion reais.

At the maximum, reached around 3 pm, the index reached 88,090.67 points, up 0.16% on the day. In the low, hit at 11:35 am, it dropped to 86,769.52 points, down 1.34%.

On Wall Street, the North American S&P 500 had an increase of 0.9%, while the Dow Jones advanced 0.7%.

Petrobras’ shares sought to establish themselves in the blue, with preferred shares up 0.4%, while ordinary shares appreciated 1.1%, helped by the 2.1% increase in Brent oil contract prices.

The commodity’s futures have started on a positive path amid signs that the demand for gasoline in the United States is growing, despite the unexpected increase in US oil stocks and fears of the US-China tension.

The session also had a report by Credit Suisse’s global strategy team, which raised the recommendation of Brazilian stocks to a ‘small’ overweight in the emerging markets universe under its cover.

Despite the attempt to improve, the friction between Washington and Beijing, as well as the institutional conflict involving the government, Congress and the Federal Supreme Court (STF), halted a stronger recovery, mainly after a 7% rise accumulated by Ibovespa in the first three trading days of the week.

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