Ibovespa closed lower on Thursday, disconnected from Wall Street, with Petrobras shares among the biggest downward pressure, while Cogna fell nearly 12% after reporting a loss in the fourth quarter of last year.
The Brazilian stock exchange’s benchmark index, Ibovespa, fell by 0.75% to 128,158.57 points. At the high of the day it reached 129,555.91 points. At the minimum, at 128,092.84 points.
The financial volume amounts to 21.6 billion reais.
Investors also echoed the Central Bank’s decision a day earlier to cut the Selic rate to 10.75%, as economists expected, and to change its future guidance, signaling another 0.50 percentage point cut only at the next meeting.
Since August, when the BC began a sequence of cuts of 0.5 points in the Selic, the authority has stated that it expects equivalent reductions “in the next meetings”, plural, confirming the expected scenario. Now he has opted for singles.
“The committee, rightly, chose to shorten its future prescription amid greater uncertainty,” said Itaú Unibanco economists led by former BC Mario Mesquita, referring to the BC Monetary Policy Committee (Copom).
“For now, we see the Selic rate at 9.25% per annum until the end of 2024. But we will know more about Copom’s reasons with the publication of the meeting minutes on Tuesday 26 March,” they added in a comment to clients.
In contrast, the S&P 500, one of the benchmarks of the North American stock market, closed up 0.32%, still influenced by the Federal Reserve’s signals from the day before and the robust performance of technology stocks.
By late afternoon, the yield on the 10-year U.S. Treasury bond was at 4.2709%, up from 4.271% a day earlier.
HIGHLIGHTS
– PETROBRAS PN slumps 2.72%, to 35.70 reais, on a day of weak oil prices abroad and still weakened by the noise caused by the decision on extraordinary dividends. The state-owned company has received nominations from the union and minority shareholders for the board of directors.
– COGNA ON fell 11.90%, to 2.37 reais, after an adjusted net loss of 373.6 million reais in the fourth quarter of last year, reversing a net profit of 76.15 million reais in the previous year, in a performance influenced for tax purposes. In the sector, YDUQS ON lost -2.75%.
– PETZ ON lost 2.61%, to 4.86 reais, on the day of adjustment, after strong appreciation since last month. Previously, the company said the company’s founder and CEO, Sergio Zimerman, had increased his stake in the pet products and services retail chain.
– LWSA ON rose 1.85% to 6.05 reais amid positive impacts from the company’s fourth-quarter numbers, which showed a 41.5% increase in operating results as measured by adjusted Ebitda. The company also said it had good booking, with “many new stores,” in January.
– ALLOS ON fell 0.97%, to 24.63 reais, even after a 30.5% increase in net profit in the fourth quarter of last year. The company also released forecasts and revised the projection of synergies with the combination of BrMalls and Aliansce Sonae to 210 million reais per year until the end of 2028.
– VALE ON closed 0.24% lower, at 61.66 reais, reversing the high of part of the session, when it reached 62.63 reais, following iron ore futures in China, where the most traded contract the Dalian Commodity Exchange closed the day’s trading up by 2.72%.
– ITAÚ UNIBANCO PN fell by 1.03%, to 34.44 reais, while BRADESCO PN fell by 1.12%, to 14.14 reais.
– VIVARA ON collapses by 7.88%, to 24.65 reais, after a result with growing net revenues in the last quarter of last year, but worsening margins, while doubts remain about the recent change in command. Since the announcement of the CEO’s replacement at the end of last Friday, the stock has lost almost 20%.
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Source: Terra
Ashley is a professional author and journalist, working at 247 News Update. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. She brings a unique perspective and in-depth analysis to her work.
