The Ibovespa holds 130,000 points with the advance of Vale and Petrobras, but closes down pressured by fiscal caution (Image: REUTERS/Amanda Perobelli)
Ibovespa (IBOV) left the negative tone behind. After five sessions of decline, the main index of the Brazilian stock exchange interrupted the negative sequence with support from China.
The main index of the Brazilian stock exchange rose 1.22% to 132,155.76 points.
Already the dollar in sight (USBRL) ended the session R$ 5,4628 (-1,31%).
On the domestic front, investors reacted to the minutes of the most recent meeting of the Monetary Policy Committee (Copom). Last week, the monetary authority raised the basic interest rate, the Selic, by 25 basis points, to 10.75% per year.
In the minutes, the BC excluded from the text the mention made in July that the Broad National Consumer Price Index (IPCA) “has cooled down”.
According to the document, the data suggest a deterioration in the composition of inflation, although the aggregate number did not differ significantly from what was expected, citing an interruption in the disinflationary process in the most recent period.
“The Committee assesses that the prospective inflation scenario has become more challenging, with the increase in medium-term inflation projections, even conditioned on a higher interest rate trajectory,” it stated, reinforcing that the balance of risks for inflation is no longer balanced and has become asymmetric, with a greater weight of the risks of rising prices.
Furthermore, the market followed new statements from the president of the Central Bank, Roberto Campos Neto.
In a speech at the J. Safra Brazil Conference 2024, the director stated that the most recent inflation figure was “even better”, but that, when looking at the more complete picture, the “inflation dynamics still worry the Central Bank”.
Stock market ups and downs
Among the assets traded on the stock exchange, the shares of Ambipar (AMBP3) jumped almost 20% during trading and raised gains in 2024 to almost 469%. According to a report by Ativa Investimentos, the company's shares lead rental rates, with 148.5%.
Anima (ANIM3) fell sharply and shares reached their lowest price since November 2023, at R$2.42, after Citi downgraded its buy recommendation for the shares to neutral/high risk.
On the positive side of the Ibovespa, CSN (CSNA3) led the trading session's gains, with the announcement of economic stimulus in China — which boosted iron ore and, consequently, the shares of companies in the mining and steel sector.
Usiminas (USIM5) e Vale (ELECTION 3) were also among the largest on the main Brazilian stock exchange index.
The actions of the Brave Energy (BRAV3) finally gained momentum and rose more than 7%, reducing losses of more than 15% in the last month.
As blue chips also surfed the 'positive wave' of the Ibovespa. Petrobras (PETR4;PETR3) advanced in the wake of oil and banks recovered losses from the previous session.
On the negative side, Azul (AZUL4) once again led losses amid uncertainty about the airline. Santos Brazil (STBP3), which was among the biggest gains on the Ibovespa the day before, gave back its gains and ended the session down.
Exterior
Nos USAnew economic data moved the trading session Wall Street.
U.S. consumer confidence fell to 98.7 in September from a revised 105.6 in August, the Conference Board said. The reading was expected to be 104. That was the lowest level in more than three years.
Despite the weaker-than-expected data, the S&P 500 index renewed its all-time intraday record at 5,734.43 points and its highest closing level for the third consecutive time.
The market is awaiting the release of the August Personal Consumption Expenditures (PCE) Price Index — the Fed's preferred inflation benchmark.
Check out the closing of the New York indexes:
- S&P 500: +0.25%, at 5,732.93 points;
- Dow Jones: +0.20%, at 42,208.22 points;
- Nasdaq: +0.56%, at 18,074.52 points.
*With information from Reuters