Coronavirus

? Ibovespa skyrockets with optimism towards aid package approval in the U.S.

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Ibovespa, Brazil’s benchmark stocks index, followed the international market upturn and traded 9 percent up in the morning at the 69,300 points level. The relief came on the back of optimism that the U.S. Congress will today approve a nearly USD 2 trillion aid package to fight off the economic impact of Covid-19.  

Among the best performers are stocks that have been struggling with steep volatility, such as the airlines Azul (AZUL4) and Gol (GOLL4). Petrobras (PETR4) also finished the day 9 percent up, following crude oil’s rebound.