Ibovespa opens higher this Thursday, 19 (Image: REUTERS/Amanda Perobelli)
O Ibovespa (IBOV) opened trading this Thursday (19) on the rise. The main index of the Brazilian stock exchange rose 0.09%, to 133,871 points, at around 10:09 am.
The dollar fell more than 1% against the real in early trading on Thursday, with investors reacting to the confirmation the day before of an increase in the interest rate differential between Brazil and the United States.
Day Trade:
Market Radar:
5 things to know when investing in Ibovespa this Thursday (19)
Copom: 'contractionist and going against the grain'
Yesterday (18), the Ibovespa lost the 134,000 point level, amid a session marked by volatility, after the Federal Reserve (Fed) cut its interest rate by 0.50 percentage points, bringing it to between 4.75% and 5% per year — the first significant reduction in a long period.
Despite the positive momentum coming from abroad, the local market was unable to shake off its pessimism, mainly due to the high expectations surrounding the decision by the Central Bank of Brazil, which came as expected: a 25 basis point increase in the Selic rate, raising it to 10.75%.
According to Matheus Spiess, analyst at Empiricus Researchthe statement that accompanied the decision had a clearly “hawkish” (contractionist), “although it did not fully meet the expectations of those who advocated three 50-point hikes this year.”
“Now, the pace and intensity of the next adjustments in interest rates will depend on the evolution of inflation. In addition, fiscal issues, which continue to be one of Brazil’s main challenges, and the pace of interest rate cuts in developed countries remain in the spotlight,” he points out.
Spiess considers that the Central Bank recognized the balance of risks for inflation, and now it is asymmetric upwards. In addition, the document highlighted that the output gap, which was close to neutrality, became positive.
“The suggestion that the domestic economy is growing above its potential was widely expected, especially after the strong 1.4% GDP growth in the second quarter,” he says.
The fact that the decision was unanimous was also positiveavoiding the disorder observed on previous occasions, such as in May. Spiess considers that This alignment is crucial to maintaining credibilityespecially in the context of the leadership transition at the BC, from Roberto Campos Neto to Gabriel Galípolo.
USA: The cycle has begun
Federal Reserve cut its interest rate by 50 basis points yesterday afternoon, adjusting it to a range between 4.75% and 5.00% per year. Only one of the committee members voted for a more moderate cut of 25 basis points.
“However, the most relevant thing was the beginning of the monetary easing cycle and the future trajectory, more than the magnitude of the initial cut,” says Matheus Spiess.
The analyst points out that the immediate reaction was relatively cautious, marked by volatility and a profit-taking movement, typical of the “rises on rumor and falls on fact” scenario — a cliché, but still applicable.
However, he considers that the outlook has already changed this Thursday, with Asian and European markets operating higher, as well as American futures, driven by the expectation of new cuts ahead and by confidence that the Fed is managing to ward off the risk of a recession. This is the much-desired “soft landing”.
AgroGalaxy (AGXY3) files for bankruptcy protection
A Agrogalaxy (AGXY3) filed for bankruptcy protection on Wednesday (18), close to the market closing. Yesterday morning, the company's CEO and 5 board members resigned and Eron Martins took over. The stock closed down 13.27%, at R$0.98.
The request for judicial recovery seeks to protect the company and its subsidiaries to continue to fulfill their obligations.
Net debt totaled R$1.5 billion in June 2024, a reduction of 9.8% vs. June 2023.
Vibra Energia (VBBR3) pays R$262 million in interest on equity
A Vibrate Energy (VBBR3) announced the advance distribution of remuneration to shareholders, with the payment of R$262 million in interest on equity (JCP), equivalent to 0.23413762288 per share.
It is worth remembering that, in the case of JCP, the amount relating to income tax withheld at source (IRRF) is deducted, in accordance with current legislation, except for shareholders who are demonstrably immune and/or exempt.
Payment will be made by December 30, 2025, without monetary adjustment or correction, based on the shareholding position on September 23, 2024.
Hypera (HYPE3) announces payment of R$123 million in interest on equity
A Hyper (HYPE3) announced, on Wednesday (18), the distribution of R$ 123.5 million in interest on equity (JCP), equivalent to R$ 0.19534 per common share.
Payment will be made by the end of 2025, on a date yet to be announced by Hypera.
Shareholders with a position in the company until September 23, 2024 will earn interest on the proceeds, and the shares will be traded “ex-interest on equity” as of September 24.
The company states that until the date of payment, no monetary adjustment will be applied to the declared amount.
*With information from Reuters