08/30/2024 – 17:58
The dollar closed higher against the real for the fifth consecutive session this Friday, the 30th, even though two interventions by the Central Bank in the market, through currency auctions, reduced the pressure, on a day marked by concerns about fiscal balance in Brazil and the advance of the US currency also abroad.
The dollar closed up 0.24%, quoted at R$5.6363. The currency advanced every day this week, accumulating an increase of 2.86% in the period. In August, however, the currency still recorded a drop of 0.34%.
+ BC may make new interventions in the dollar if it considers atypical flows, says Campos Neto
At 5:36 pm, on B3, the dollar futures contract for October — which became the most liquid this Friday — fell 0.37%, to 5.6280 reais for sale.
The Ibovespa closed with a marginal negative variation this Friday, in a session marked by adjustments, after renewing historical highs in the last trading sessions, but still accumulated in August the best monthly performance of the year.
The benchmark index of the Brazilian stock market, the Ibovespa, fell 0.03% to 136,004.01 points, having reached 136,138.94 points at its highest point and 134,910.48 points at its lowest point of the day. The financial volume totaled 45.56 billion reais. Over the week, it accumulated a positive variation of 0.29%.
Ibovespa day
The rally in the month, which took the Ibovespa above 137,000 points for the first time, was mainly driven by growing prospects that the Federal Reserve will start cutting interest rates in September.
The consolidation of these bets encouraged a net inflow of foreigners into the São Paulo stock exchange of 9.66 billion reais in August until the 28th, strengthening the Ibovespa, which rose 6.54% in the month, the best monthly performance since November 2023.
For UBS Wealth Management in Brazil, the shift in favor of risk assets in August confirms the thesis that “the conclusion of the monetary cycle in the US will be crucial as a spark to unlock potential gains” from these assets globally.
The last trading session of the month was also marked by adjustments aimed at rebalancing the Ibovespa and the MSCI Global Standard – one of the global references for investments in shares.
In the case of Ibovespa, the changes in the composition that will take effect from Monday until the end of the year include the entry of Auren, Caixa Seguridade and Santos Brasil and the exit of Dexco.
In the MSCI, which comes into effect at the close of this Friday, the changes include the entry of Nubank, XP, Embraer, Stone, PagBank and Inter, and the exit of Lojas Renner and Eneva.
On Wall Street, Friday ended mixed as financial players analyzed consumer inflation data. The S&P 500, one of the benchmarks for the U.S. stock market, rose 1%.
HIGHLIGHTS
– ITAÚ UNIBANCO PN closed down 0.7%, its second straight day of decline, after renewing its all-time high on Wednesday. In the Ibovespa sector, BANCO DO BRASIL ON lost 0.64%, and SANTANDER BRASIL UNIT fell 0.16%. But BRADESCO ON rose 0.06%. The government sent Congress a bill on Friday that raises the CSLL rate for banks to 22% by the end of 2025, returning to the current level of 20% in January 2026.
– PETROBRAS PN rose 0.1%, despite the fall in oil prices abroad, where the barrel of Brent fell 1.43%. PETROBRAS ON fell 1.43%.
– VALE ON rose 0.47%, outweighing the decline in iron ore futures in China, where the most traded contract on the Dalian Commodity Exchange ended trading for the day down 0.53%. On the Singapore Exchange, the benchmark contract fell 0.23%.
– MAGAZINE LUIZA ON ended down 5.66%, following the movement of stocks sensitive to the Brazilian economy, on a day of rising interest rate futures contracts. The consumer sector index fell 0.56%.
– AZZAS 2154 ON lost 3.39%, again among the negative highlights, after the announcement the day before about the departure of the founders of Reserva from the group, including Rony Meisler, who commanded AR&Co, a unit that is now under the command of Ruy Kameyama. On Thursday, the shares fell more than 4%.
– ENGIE BRASIL ON advanced 2.31%, with the electricity sector index rising 0.81%. Also among the highlights, CPFL ENERGIA ON appreciated 3.74%. In the news, the National Electric System Operator (ONS) estimated this Friday that the reservoirs of the hydroelectric plants in the Southeast/Central-West should reach 48% of capacity by the end of September, the lowest level in three years for the month.
– AZUL PN fell 2%, lacking the strength to sustain its attempt to improve at the opening after a 24% drop the previous day, when it suffered from concerns about possible alternatives to deal with debts. BTG Pactual believes that leverage problems will likely continue to pressure the shares.
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