Ibovespa opens higher this Thursday, 26 (Image: Diana Cheng/Money Times)
O Ibovespa (IBOV) opened trading this Thursday (26) on the rise. The main index of the Brazilian stock exchange rose 0.22%, to 131,875 points, at around 10:08 am.
The dollar fell more than 1% against the real in early trading this Thursday, in line with weakness abroad.
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5 things to know when investing in Ibovespa this Thursday (26)
US: 'quick break to catch my breath'
US stocks had a day of strong volatility yesterday (25), with investors evaluating the path of interest rate cuts from the Federal Reserve and absorbing data from the real estate sector.
The figures showed a drop in new home sales in the USA last month, while another set of data revealed that mortgage rates fell for the eighth consecutive week.
Even with the Fed cutting interest rates by half a percentage point last week, the market continues to look for new catalysts to boost stocks.
According to Matheus Spiess, analyst at Empiricus Researchnot even the approval, by both the House and the Senate, of a bill that funds federal agencies until the end of December — thus avoiding a government shutdown in the middle of an election period — was enough to encourage the markets.
Today (26), attention turns to the third and final estimate of growth in Gross Domestic Product (GDP) of the second quarter, with the expectation that the growth rate will remain at 3%, according to the second estimate.
BTG Pactual (BPAC11) acquires Miami-based asset management firm Greytown Advisors
O BTG Pactual (BPAC11) acquired the asset management company Greytown Advisors, based in Miami and performance in multifamily officecontinuing its international expansion plan, according to a press release.
According to BTG, the acquisition — already authorized by regulatory entities — brings to its management approximately US$ 1 billion from families with a “ultra high” from Central America.
The investment bank had already announced at the end of June the purchase of the North American private bank MY Safra Bankbased in New York, for an undisclosed amount.
Oil: 'Is there a chance of a ceasefire?'
Yesterday (25), the market oil suffered a strong correction, reversing much of the recent gains. According to Matheus Spiess, this trend continues today (26), with the price of Brent falling below $72 per barrel.
“The decline is driven by investor uncertainty regarding the impact of the economic stimulus announced by China, combined with the news that rival factions in Libya have reached an agreement to cease conflicts and resume oil production in the country,” he points out.
The Prime Minister of IsraelBenjamin Netanyahu, gave the green light to start negotiations aiming for a ceasefire in Lebanonin addition to the resumption of talks on an armistice and the release of hostages in Gaza.
The analyst emphasizes that this new attempt at pacification is being led by the USA.
“Although President Joe Biden warned this week about the possibility of an 'all-out war' in the Middle East, due to the intensification of the confrontations between Israel and Hezbollah, the White House is optimistic about the chance of avoiding a greater escalation of violence,” it says.
Spiess says the prospect of a ceasefire reduces geopolitical tensions — which takes pressure off oil prices, contributing to the market's decline.
- See what is influencing the markets in Giro do Mercado this Thursday (26); live at 12pm:
Panvel (PNVL3) will pay R$13.5 million in JCP
A Panvel (PNVL3) approved the payment of R$ 13.5 million in interest on equity. The total gross payment amount is R$0.090380596 for the company's common shares.
The net value, after deducting Income Tax at source, is R$0.07682351, except for legal entity shareholders, demonstrably immune, who will receive the declared value in full.
Payment will be divided into two installmentsthe first being worth R$ 0.028921791, on 04/30/2025, and the second R$ 0.061458805, on 05/30/2025.
Those with the right to JCP will be entitled to shareholding position until October 2, 2024. Shareholders will have credit available according to their current account and bank address provided to Banco Bradesco.
BC improves GDP growth projection to 3.2% in 2024, but sees slowdown in 2025
O Banco Central improved its projection for economic growth in 2024 to 3.2%, compared to the 2.3% level estimated in June, according to the Quarterly Inflation Report released this Thursday (26), with a smaller-than-expected impact from the floods in Rio Grande do Sul, but predicting a slowdown in the country in 2025.
The new projection for this year is in line with the calculations of the Ministry of Finance, which also predicts a 3.2% expansion for the GDP. According to the most recent Focus survey, the market estimates that the economy will grow 3.00% in 2024.
The BC stated that the upward revision for this year's GDP is mainly due to the “high positive surprise” in the second quarter, but considered that it expects a slower pace in the second half of this year and throughout 2025, a year for which the authority projects growth of 2.0%.
Among the reasons for the slowdown, the report cited “expectation of lower momentum fiscalinterruption of monetary easing initiated in 2023, lower degree of idleness of production factors and absence of strong external impulse.”
The monetary authority said it expects agriculture to decline by 1.6% in 2024 and grow by 2.0% in 2025. For industry, the Central Bank sees growth of 3.5% in 2024 and 2.4% next year. In the case of services, the forecast is for growth of 3.2% this year and 1.9% in 2025.
In factors closely analyzed for the risk of generating pressure on the inflationthe monetary authority stated that economic activity continued to expand at a strong pace and the labor market remains buoyant.
*With information from Reuters