Ibovespa opens higher this Monday, 30th (Image: Diana Cheng/Money Times)
O Ibovespa (IBOV) opened trading this Monday (30) on a high. The main Brazilian stock market index rose 0.04%, to 132,787 points, at around 10:04 am.
The spot dollar fell slightly against the real in the first negotiations on Monday, in line with weakness abroad.
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Economists raise Selic projection to 11.75% in 2024
The economists consulted by the Banco Central raised the stakes for Selic at the end of this year from 11.50% to 11.75%, according to the Focus Bulletin this Monday (30). Estimates for 2025 also rose from 10.50% to 10.75%.
For 2026 and 2027, projections remained stable and interest rates are expected at levels of 9.50% and 9%, respectively.
Now for the inflationthe expectation for 2026 was cut from 3.62% to 3.60%. For 2024, 2025 and 2026, the bets for the Broad Consumer Price Index (IPCA) remain at respective 4.37%, 3.97% and 3.50%.
The Gross Domestic Product (GDP), in turn, had an adjustment in 2025 and should reach 1.92% — previously, the estimate was 1.90%. In other years, the country's growth should be 3%, 2% and 2%.
USA: 'Job week'
September is historically the most challenging month for the US stock market, says Matheus Spiess, analyst at Empiricus Research. For him, investors are optimistic about the possibility of recording the first gain in a month of September since 2019.
“Last week, the main American indices closed higher, driven by the celebration of the 50 basis point cut in interest rates, the first adjustment of its kind in four years”, he states.
On Friday (27), the Dow Jones Industrial Average reached another closing record, while the S&P 500 he had already renewed his record on Thursday (26).
Now, attention turns to the week's upcoming events, especially the highly anticipated September jobs report, which will be released on Friday. Spiess points out that the expectation is that the American job market will add around 140 thousand jobs in the period and keep the unemployment rate stable at 4.2%.
“Last week brought indicators that reinforce the possibility of further interest rate cuts, including the personal consumption expenditure price index (PCE), the Fed’s preferred inflation indicator, which came in below expectations”, he informs. “This weaker data increases the likelihood of a further 50 basis point cut in November.”
Before the long-awaited jobs report, investors will also be paying attention to the job openings and labor turnover survey, which will be released on Tuesday (1), and the ADP report, scheduled for Wednesday (2).
- China's stock markets record biggest gains since 2008: See how this impacts the Brazilian market in this Monday's Market Giro (30):
Raízen (RAIZ4) clarifies the situation regarding gasoline distribution assets in Argentina
A Raízen (RAIZ4) clarified that it carries out continuous evaluation and recycling of assets in its portfolio, but, at the moment, there are no negotiations regarding the divestment of its operation in Argentina.
The statement was sent to the market after circulating in the media that the joint venture and Cosan (CSAN3) with the Shell would be considering selling its distribution asset Gasoline not country.
The news of Bloomberg Linein fact, said that Cosan, in an attempt to reduce its leverage, would be considering selling a portion of its 4.1% stake in Vale (ELECTION 3), of US$2.2 billion (R$12 billion).
O Money Times contacted the company's advisors, who said they would not comment on the matter. A source, however, stated that the group has no intention of getting rid of its position in Vale.
MRV (MRVE3) sells residential units through the Pode Entrar Program and developments in the USA
A MRV (MRVE3) informed the market that it sold 1,521 residential units under the Pode Entrar Program. The global value is R$293.9 million.
MRV also announced that the sale of the Old Cutler project located in Florida, USA, was completed. PSV was US$118.5 million, representing a gross profit of US$11 million, in addition to a cap rate of 5.65% and yield on cost of 6.2%.
China indices achieve biggest daily gains since 2008 with Beijing stimulus
The stock indices of China achieved their biggest daily gains in 16 years today, with stocks posting their highest volume ever as investors took part in an intense hunt for risky assets sparked by Beijing's latest stimulus measures.
Many investors, fearful of missing out on the wave of gains ahead of the weeklong holiday beginning Tuesday, helped the CSI300 index close 8.48% higher, taking its five-day advance to more than 25%. – the strongest ever recorded.
O index SSECof Shanghairecorded a total turnover of 1.17 trillion yuan ($166.84 billion) and rose 8.06%.
That took its gains in five days since last Tuesday, when Beijing began announcing stimulus measures to stem the economy's slowdown, to 21.4%, the highest since 1996.
This was also the best daily percentage gain for both indices since 2008.
*With information from Reuters