Ibovespa falls with Petrobras, tax and fiscal reform on the radar; d…

Ibovespa falls with Petrobras, tax and fiscal reform on the radar; d…
Ibovespa falls with Petrobras, tax and fiscal reform on the radar; d…

Bloomberg Línea — O Ibovespa (IBOV) turned to fall this Wednesday (8), in line with Wall Street stock exchanges and in a falling session for Petrobras shares (PETR3; PETR4).

At around 2:10 pm (Brasília time), the main index of the Brazilian stock exchange fell 0.37%, to 118,825 points. The oil company’s shares fell 2.20% and 2.18%, respectively. The dollar, in turn, was traded at R$4.89, up 0.23% at the same time.

The president of Federal Reserve, Jerome Powellstated this Wednesday that the American central bank must be willing to go beyond the complex mathematical simulations that it traditionally uses to predict the economy.

“Intellectual rigor must be combined with flexibility and agility,” Powell said in his opening remarks at a conference celebrating the 100th anniversary of the Fed’s Research and Statistics Division.

Powell, however, did not comment on the outlook for monetary policy or the economy in his speech. Investors were waiting for signals from the president of the monetary authority after members of the American Central Bank reiterated yesterday (7) a tougher tone regarding the end of the tightening cycle.

Minneapolis Fed President Neel Kashkari, for example, has said that it is too early to declare victory over inflation and that tightening monetary policy too much is preferable to doing too little.

Other Fed members such as Lisa Cook, John Williams, Michael Barr and Philip Jefferson also speak throughout the day. In Europe, Andrew Bailey, president of the Central Bank of England (BoE) will also speak, in addition to ECB officials.

On the domestic agenda, retail sales accelerated to 0.6% in September, above the median stagnation estimates. The data is seen as a new indicator of the country’s economic strength.

Here, attention also falls on the change in the 2024 fiscal target and tax reform. The latter was approved by the Constitution and Justice Commission (CCJ) on Tuesday and this Wednesday it must be analyzed in plenary, to be returned to the Chamber by the 10th (Friday).

The most traded shares this morning were:


In trading yesterday (7), the Ibovespa closed in the black, up 0.71%, at 119,268 points. The trading volume was R$1,639,314,400.

The shares with the biggest increases were: Magazine Luiza (MGLU3), with +23.78%; Grupo Casas Bahia (BHIA3), with +11.76%; Hapvida (HAPV3), with +8.54%.

The biggest decliners were: Petrobras PN (PETR4), with -1.66%; Vale (VALE3), with -1.99%; Petrobras ON (PETR3), with -2.21%.

During the year, the Ibovespa accumulated an increase of 8.71% until the previous trading session.

— Quotes update at 2:10 pm (Brasília time)

— Content created with the help of automated data from Bloomberg.

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The article is in Portuguese

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