The stock market is volatile today, after a positive start, while the dollar is rising. This Wednesday (8), the price of oil on the international market and the massive drop in slaughterhouses are highlighted in the early afternoon.
Furthermore, the direction of interest rates also affects the stock market today. With all this on investors’ radar, around 1 pm, the Ibovespa fell 0.08%, 119,168.08 points after oscillation between positive and negative fields. On Tuesday, the index advanced 0.71%, highlighted by Magalu, which rose 23%. Understand what motivated the retailer’s surge.
At the time mentioned, oil fell by close to 2%, pushing down the shares of Petrobras (PETR4: -1.95%; PETR3: -1.89%) and Prio (PRIO3: -1.15%). Petroreconcavo (RECV3) fell 1.60%. 3R operates close to stability.
Another highlight is the massive drop in slaughterhouses, with drops of almost 7%.
BRF (BRFS3) fell 6.90%. JBS (JBSS3) fell 0.42%. Marfrig (MRFG3) fell 1.57%. Minerva (BEEF3) operates stable.
The dollar also rises in the trading session. At the mentioned time, the North American currency rose 0.25% compared to the real, quoted at 4.8850.
On the international scene, the dollar also rose. The DXY advanced 0.05%, to 105.59 points.
In a day full of speeches by Fed directors, the stock exchanges still feel fears about the weakness of the global economy, which dropped oil by more than 4% yesterday, resulting in a negative bias this morning, except in Europe, where results are expected to be slightly lower. recovery.
“Commodities and interest rates recover part of yesterday’s strong falls, while the dollar continues to rise”, highlights Nicolas Borsoi, chief economist at Nova Futura Investimentos.
At the time mentioned, iron ore rose 0.40%, while steel rose 0.65%. On the other hand, Brent oil fell 0.82%, at a slower pace than yesterday’s fall.
As a result, the Ibovespa opens higher, “driven by the recovery of part of commodities, while, in terms of interest, the initial reaction must be guided by the IGP-DI and fiscal data”, he adds.
Politics and economics should also move Ibovespa
Roberto Campos Neto, president of the Central Bank of Brazil, will also give a talk at the event, at 3:40 pm.
When it comes to the economy, the highlight is retail sales, which rose 0.6% in September compared to August, in the seasonally adjusted series, according to the Brazilian Institute of Geography and Statistics (IBGE).
The result was above the median forecast of analysts heard by Projeções Broadcast, an increase of 0.1%. The range of estimates ranged from a drop of 1.3% to an increase of 0.7%.
“A day full of results here, with retail sales and public sector data being the highlight of the agenda”, highlights Borsoi. “But the possible vote on tax reform in the Senate should be the event of the day”, he adds.
The text goes to the Senate plenary, after approval by the CCJ on Tuesday.
Eletrobras (ELET3; ELET6) reversed losses and recorded a net profit of R$1.476 billion, according to the balance sheet released this morning. In the nine months, profit totals R$3.501 billion, 15% below the R$4.117 billion.
Furthermore, Iguatemi’s (IGTI11) result for 3Q23 came in above expectations and was classified by Guide as “impressive”, with the company “delivering efficiency gains, on track to exceed its Ebitda margin guidance”, according to the report.
Another highlight is BTG Pactual (BPAC11), which presented a strong result, in line with the market consensus. “The bank once again presented a record adjusted net profit of R$2.7 billion, annual growth of 19%”, highlights Guide.
With information from Estadão Content