Ibovespa retreats, but maintains 119 thousand points; dollar advances and reaches R$ 4.90

After five consecutive sessions of increases, the Ibovespa entered a technical correction and ended the trading session with a drop of 0.13%, closing at 119,115 points, in line with the weakening of Wall Street. The main index reached 120 thousand points in negotiations this Thursday (8), but the fall in Petrobras shares put pressure on the indicator. The dollar, in turn, registered an increase of 0.66%, being traded at R$4.90.

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The sharp drop in the price of oil, which took Brent below US$80 for the first time since July, negatively impacted the shares of related companies, contributing to the fall of the index. PetroReconcavo (RECV), Prio (PRIO3) and Petrobras (PETR4) recorded drops of 4.39%, 2.84% and 2.18%, respectively.

On the other hand, companies linked to iron ore, such as Vale (+0.08%), showed a small appreciation in their shares, after the Chinese authorities asked the Ping An Insurance Group to take over controlling interest in Country Garden, the largest private real estate developer in the country, according to Reuters news. The retail sector also advanced with the relief in the future interest rate curve (DIs). Magazine Luiza (MGLU3) extended the gains of the previous session with an appreciation of 1.13%

While awaiting the result of the vote on PEC 45/2023 in the Senate, investors are evaluating the impact of the proposal on the economy. The matter, which changes the National Tax System, was approved in the Chamber of Deputies in July, but underwent changes in the Senate, with the inclusion of exceptions for specific groups. However, the Ministry of Finance states that the “backbone” of the original text was maintained.

Highlights of the auction

Biggest Highs:
TOTS3: +5.44% to R$30.25
TIMS3: +4.04% to R$17.23
EMBR3: +3.92% to R$19.07
SUZB3: +3.19% to R$53.70
VIVT3: +3.23% to R$49.59

Biggest Casualties:
DXCO3: -10.86% to R$6.73
BRFS3: −8.41% at R$11.55
ARZZ3: −4.71% to R$59.61
RAIZ4: −4.26% to R$3.82
RECV3: −4.80% at R$20.16

Exterior

Wall Street’s main indices rose on Wednesday as investors pored over financial results and a series of comments from Federal Reserve officials for clues on how long the U.S. central bank will keep interest rates high. and when you will start to reduce them.

On the other hand, European stocks rose, driven by gains in the healthcare sector and solid corporate results. Investors weighed a range of economic data and comments from central bank officials for clues about the European Central Bank’s interest rate hike path. The pan-European STOXX 600 index ended the day with an increase of 0.28%, reaching 444.07 points. Data indicated that retail sales in the euro zone fell roughly in line with expectations in September.

(With Reuters)