06/02/2024 – 18:40
The Ibovespa flirted with 130 thousand points in the afternoon on Tuesday, at the highest intraday level since January 16th, and managed to maintain the mark at the close, also the best since the 15th of the same month. Today, the index fluctuated from a low at opening at 127,592.80 to a high of 130,416.95, an increase of 2.21% that coincided with the closing, a fraction below, at 130,416.31 points. Turnover rose to R$27.3 billion in the session. During the month, the Ibovespa became positive, rising 2.09% in February, with a gain of 2.54% in the week after two favorable sessions. In percentage terms, the day's gain was the biggest since December 13, at 2.42%.
Only five of the 86 shares in the theoretical portfolio ended the day lower: Embraer (-3.83%), Localiza (-1.95%), Hapvida (-0.78%), Rumo (-0.66%) and Weg (-0.06%). At the winning end, in addition to Bradesco PN (+6.21%) – a bank that is about to release its balance sheet -, highlights also include Natura (+6.79%), Eletrobras (ON +5.63%), Casas Bahia (+ 5.30%) and Magazine Luiza (+5.13%). Cielo rose 3.98% today, with the company's delisting decided by the controllers: Bradesco and Banco do Brasil.
BTG Pactual highlights, in a report, that the unified offer with Banco do Brasil to take Cielo off the stock market “makes a lot of sense for the controlling banks, especially Bradesco, which is undergoing a major transformation” – in which it should focus more heavily on segment of small and medium-sized companies, reports journalist Caroline Aragaki, from Broadcast.
Just like Bradesco, the other blue chips also did well in the session, including Vale ON, the most important share on the Ibovespa – in the month, the mining company's share still accumulates a loss of 1.61%, but now rises 0.89% in week, with an increase of 1.77% this Tuesday. Petrobras ON and PN gained 1.51% and 0.92% today. Among the large banks, in addition to Bradesco before the quarterly numbers, the highlight was Itaú (PN +4.29%), with a favorable market reaction to the October-December 2024 balance. The metal sector also shone today, with emphasis on CSN ( ON +3.57%).
“Released today, the Focus Bulletin did not bring major changes in the outlook for inflation, GDP and exchange rate, both for 2024 and 2025. We did not have any other economic data that could bring volatility to the market, besides the Copom minutes which, In general, it came in line with expectations. The market is also waiting for the inflation data that will be released on Friday”, says Rose Duarte, analyst at Toro Investimentos.
On the positive side of the session, it highlights the announcement of results above those expected by the market for Itaú – as well as the distribution of dividends and share buyback plan -, which added momentum to the sector with the greatest weight on the Ibovespa, the financial sector.
The main item on the domestic agenda this Tuesday, the Copom minutes, referring to last week's meeting, were received without surprise since the morning. “It did not bring any changes to the discussion on the conduct of monetary policy and the signaling of next steps”, notes Sérgio Goldenstein, chief strategist at Warren Investimentos.
“It is worth highlighting, however, that it can be seen as slightly more hawkish, given that the assessment of scenarios and risk analysis reveals, on the margin, a greater concern with the recent dynamics of services inflation, the acceleration of real incomes, the possibility of mitigating the slowdown in activity, and an international scenario that remains volatile and uncertain, demanding caution”, adds the strategist, also noting that, in the document, “there is no indication that the committee can accelerate the pace of monetary adjustment”.
“The minutes show continuity of reading, with emphasis on the same points, and signaling that the drop in interest rates abroad is still expected to materialize”, says Diego Faust, variable income operator at Manchester Investimentos.
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