Ibovespa today: Contrary to New York, the Stock Exchange records a 1% drop

Ibovespa today: Contrary to New York, the Stock Exchange records a 1% drop
Ibovespa today: Contrary to New York, the Stock Exchange records a 1% drop
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Today, the Ibovespa closed down 1.01%, at 127,182.25 points, in the opposite direction of the United States, which registered an increase of 1.74% (Nasdaq) at the end of business. Dow Jones and S&P 500 renewed their highs.

The Stock Exchange showed a drop of 1.38% throughout this month’s transition week, reversing the 1.04% increase recorded in the previous week. This week represents the only positive performance at the beginning of 2024. Year to date, the index has accumulated losses of 5.22%, with a drop of 0.45% in the first two sessions of February.

Performance of main stocks

In the last session of the week, most of the main shares on B3 showed declines, with the exception of a few names such as Gerdau and Metalúrgica Gerdau, driven by an elevated recommendation from ‘neutral’ to ‘buy’ by Goldman Sachs. Among the biggest falls, Cogna, Casas Bahia and PetroReconcavo stand out. Only 15 of the 87 stocks in the theoretical portfolio managed to avoid losses in the session.

Negative performance of oil and iron ore

The negative performance of oil and iron ore on Friday had a direct impact on the shares of Petrobras and Vale, contributing to the retraction of both. Some bank stocks were also impacted, although some managed to maintain slight increases.

Expert analysis

In a monthly report on the Brazilian Stock Exchange in January, the head of research at Guide Investimentos, Fernando Siqueira, highlights that the fall in the Ibovespa was mitigated by important companies in the index, such as Petrobras, Ultrapar and Banco do Brasil. He points out that smaller and cyclical companies had more significant falls, reflecting the worsening prospects for interest cuts globally.

International scene

The international scenario also influenced the market, with the January payroll in the United States generating noise. JPMorgan chief economist Bruce Kasman highlights that the report cannot be interpreted as a strong sign of jobs, impacting expectations for possible monetary easing in March by the Federal Reserve.

The probabilities of interest rate maintenance by the Federal Reserve in March increased, reaching 79.5%. This perspective directly impacts bets for May, with the chance of relief continuing as the most likely outcome for the meeting in the fifth month of the year.

The report highlights that the flow of foreign investors was negative in January, reflecting the marginal deterioration of the scenario. Rising market interest rates favored “value” companies such as commodity producers and banks, while putting pressure on “growth” companies such as healthcare, education and e-commerce.

Perspectives for the domestic market

On the domestic agenda, Pezco economist Helcio Takeda highlights the above-expected growth in industrial production in December, adding an upward bias to the GDP growth projection for the fourth quarter of 2023.

The article is in Portuguese

Tags: Ibovespa today Contrary York Stock Exchange records drop

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