Ibovespa opens higher this Tuesday, 24 (Image: REUTERS/Amanda Perobelli)
O Ibovespa (IBOV) opened trading this Tuesday (24) on the rise. The main index of the Brazilian stock exchange rose 0.38%, to 131,065 points, at around 10:05 am.
The dollar fell against the real on Tuesday, in line with weakness abroad, as investors analyzed the impacts of the announcement of economic stimulus measures in China in emerging countries and the minutes of the most recent monetary policy meeting of the Banco Central.
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5 things to know when investing in Ibovespa this Tuesday (24)
Copom minutes maintain tough tone and mention conditions that dictate future adjustments in Selic
O Banco Central released this Tuesday morning (24) the minutes of the last meeting of the Monetary Policy Committee (Copom). Last week, the monetary authority decided to raise the Selic by 0.25 percentage points (pp), to 10.75% per year.
In the minutes, the Committee highlights that the resilience in activity, the pressures in the labor market, the positive output gap, the increase in projections for inflation and unanchored expectations demand a more contractionary monetary policy.
Copom members, however, do not commit to future strategies.
They simply state that the pace of future adjustments to the Selic rate and the magnitude of the cycle will be dictated by the “firm commitment to convergence of inflation to the target and will depend on the evolution of inflation dynamics, especially the components most sensitive to economic activity and monetary policy, inflation projections, inflation expectations, the output gap and the balance of risks”.
Check out the Copom minutes in full
What about Tax Reform?
The lack of agreement between the government and the Congress resulted in the blocking of deliberations in the Senate, starting on Monday (23), in relation to the main project to regulate tax reform.
According to Matheus Spiess, analyst at Empiricus Researchsince August, the text has remained without a designated rapporteur, creating an impasse that has hindered its progress.
Senators asked the government to withdraw the request for urgency, arguing that the election period would make it difficult to properly analyze the matter within the constitutional deadline of 45 days. However, the Planalto Palace chose to maintain the accelerated pace of processing.
“According to the rules, the project should have been voted on by last Sunday, but as this did not happen, the Senate agenda was blocked,” he points out.
For the analyst, although there are no critical votes expected before the elections, the indication of Gabriel Galipolo for the presidency of the Central Bank, scheduled for October 8, may be harmed.
“With the agenda blocked, only matters with defined constitutional deadlines can be considered. This represents an additional challenge for a government that is already in the minority in Congress and faces a race against time to approve this and other important proposals,” he ponders.
Furthermore, Spiess claims that the blockage makes it difficult to advance other stages of tax reform, such as income tax reform — which should be implemented gradually, but now becomes even more uncertain.
- The best strategies for investing in FIIs with the rise in the Selic rate; Check out Giro do Mercado live this Tuesday (24) in the player below:
BlackRock sells shares in Assaí (ASAI3)
BalckRock has reduced its shareholding in Assai (ASAI3). The position now stands at 131 million common shares, corresponding to 9.8% of the company.
Furthermore, the statement states that the purpose of the equity interests is strictly investment, with no aim to change the company's shareholding control or administrative structure.
Cielo (CIEL3): Compulsory redemption of shares remaining from the OPA is approved for the amount of R$5.89
A Cielo (CIEL3) informed the market that it will carry out the compulsory redemption of the shares that remained in circulation, after carrying out the public offering of shares (OPA) that closed the company's capital, according to a statement released on Monday (23).
Approved at an Extraordinary General Meeting (EGM), the measure requires minority shareholders who remained with CIEL3 to sell their shares to the controlling shareholders.
According to the Cielo statement, shareholders will receive the same amount as the price per share of the OPA, of R$5.82, adjusted by the Selic rate accumulated since August 16, the auction settlement date, until the payment date, which will be September 26, 2024. Thus, the final value will be R$5.89.
Grupo Mateus (GMAT3) will pay R$100.4 million in interest on equity
O Matthew Group (GMAT3) approved in the board the distribution of interest on equity in the total gross amount of R$ 100.4 million, based on the company's profit reserves, equivalent to the gross value of R$ 0.0454477290 per share, excluding treasury shares.
“People registered as shareholders of the company on the base date of September 26, 2024, will be entitled to the declared JCP, respecting the negotiations carried out up to that date, inclusive. The company's shares will be traded ex-rights to receive JCP from September 27, 2024”, said Grupo Mateus.
The retailer reported that the payment of interest on equity will be made in a single installment by December 31, 2024, on a date to be set by the board of directors and informed to shareholders.
*With information from Reuters