The Ibovespa advanced this Wednesday, recording a pause in selling after three consecutive sessions of declines, while financial agents await the outcome of the Federal Reserve meeting in the afternoon, when signals could be issued on the next steps of the North American central bank.
At 11.46am the Ibovespa rose 1% to 119,026.97 points. The financial volume amounts to 5.1 billion reais.
“Today’s session is extremely important for short- and medium-term movements in global markets, as the main trigger is the North American monetary policy decision,” brokerage Commcor said, stressing that the focus is all on the statement, given the interest rate forecasts. remain in the range between 5.25% and 5.50%.
In addition to the press release, the announcement of the decision at 3pm (Brasilia time) will be accompanied by the Fed’s economic projections. Starting from 3.30pm the spotlight will be on the press conference of the president of the North American presidency BC, Girolamo Powell.
After the close, the Brazilian CB will announce its monetary policy decision, and attention will also focus on the indications of the Monetary Policy Committee (Copom) regarding the future trajectory of the Selic. The forecast is that the rate will be reduced to 12.75% from the current 13.25% per year.
According to the Commcor team, any decision other than the Fed maintaining interest rates and a 0.50 percentage point cut by Copom “promises deep adjustments in the market.”
HIGHLIGHTS
– AZUL PN rose by 12.05%, on a day of recovery in the travel sector on the stock exchange. Goldman Sachs raised its “buy” recommendation on Azul shares, saying it sees “positive asymmetry between (expected) EBITDA expansion in 2024 along with an undemanding valuation.” The target price went from 24.30 to 29.90 reais. In the case of Gol, the “neutral” recommendation was maintained, but the indicative price fell from 11.50 to 7.60 reais. Despite this, GOL PN jumped by 8.28%. CVC BRASIL ON recorded an increase of 7.62%. Until the day before, these stocks accumulated declines of 6.6%, 9% and 10.08% respectively in September.
– SUZANO ON advances by 3.20%, after announcing that it will increase pasta prices in all its markets starting from October. For Asia, including China, the increase is 30 dollars per ton, for Europe and the United States it is 50 dollars per ton. KLABIN UNIT grew by 2.49%.
– BRASKEM PNA fell 5.63%, with BTG Pactual’s report on the radar cutting the stock’s recommendation to “neutral”, highlighting that demand growth is slightly lower than expected, but that the expansion of supply has more than made up for this and the market is now oversupplied. Analysts also said Braskem’s spreads have not recovered and the second half of the year could be even weaker than the first half of the year.
– VALE ON rose 0.8%, helped by movement in iron ore futures contracts in Asia, as signs of economic stabilization in China helped offset worries about the struggling real estate sector in the country’s largest steel producer world. The most traded maturity on China’s Dalian Commodity Exchange closed the day’s trading 0.5% higher at 873.50 yuan ($119.69) per tonne. In Singapore the benchmark contract rose 1.4%.
– ITAÚ UNIBANCO PN appreciated by 1.55%, while BRADESCO PN increased by 0.47%. In the financial sector, B3 ON advanced by 2.17%, also contributing to the recovery of Ibovespa.
– PETROBRAS PN recorded an increase of 0.64%, despite the decline in oil prices abroad, where the Brent barrel lost 0.21%.
– ASSAÍ ON falls 1%, in a negative session for the food retail sector on the Ibovespa, with GPA ON down 1.98% and CARREFOUR BRASIL ON down 0.64%.
Source: Terra
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