By Andre Romani
SAO PAULO (Reuters) – The Ibovespa fell on Tuesday, in the face of a decline in international stock and commodity markets, while in Brazil, investors evaluated the monthly IPCA drop in September, the third in a row, but less sharp than the projection. of analysts.
Vale and Petrobras helped bring the index down, while Braskem jumped at the opposite end with the news that the manager Apollo raised a purchase offer for the petrochemical.
At 12:03 (Brasília time), the Ibovespa dropped 0.45%, to 115,421.42 points, the third consecutive drop. At the minimum, the index yielded to 114,769.01 points, while at the maximum it was 115,927.72 points. The financial volume totaled 8.6 billion reais.
The Ibovespa is “reacting abroad, with a drop in commodities,” said Pedro Paulo Silveira, manager at Nova Futura.
On Wall Street, the S&P 500 dropped 0.7% and marked the fifth consecutive drop, before the start of the earnings season this week and pressured by the scenario of rising interest rates globally, war in Ukraine and advance of Covid-19 in China.
On the local scene, the Broad National Consumer Price Index (IPCA) dropped 0.29% in September, the IBGE said on Tuesday, against an expectation of a 0.34% reduction, according to a Reuters survey of analysts. The pace of decline has been losing strength after falling 0.68% in July and 0.36% in August.
“While the core number continues to decline consistently, the underlying components are showing more mixed signals,” the Citi team wrote in a report, citing service sector and core inflation figures. They project, however, that prices continue to lose momentum.
The election also remains on investors’ radar, with the release of an Ipespe survey. Former president Luiz Inácio Lula da Silva (PT) will campaign this Tuesday in Rio de Janeiro, the electoral stronghold of reelection candidate Jair Bolsonaro (PL), who will spend the day in the southern region of the country.
HIGHLIGHTS
– BRASKEM PNA jumped 11.7%, at 31.15 reais, in the wake of news that the North American manager Apollo raised the proposal to acquire the company. Apollo made a new proposal for Braskem and accepts to pay 50 reais per share, an offer 25% above the previous one, said the column by Lauro Jardim, published in O Globo, this morning. The proposal includes the delisting of the company on B3 and the subsequent reopening on the New York Stock Exchange, according to the newspaper.
– VALE ON exhibited a drop of 0.8%, at 73.36 reais, after a 2.5% drop in the most traded futures contract for iron ore on the Dalian exchange, ending five consecutive sessions of gains for the commodity.
– PETROBRAS PN fell 0.3%, to 33.16 reais, as Brent oil yielded more than 1% on fears of recession and in the face of the advance of Covid-19 in China, which raises concerns about demand for the commodity in the market. In the sector, 3R PETROLEUM ON lost 2.1%, at 42.12 reais, while PRIO ON rose 0.9%, at 31.74 reais.
– COSAN ON advanced 3.6%, at 15.95 reais, after two low sessions due to the announcement of the acquisition of a minority stake in mining company Vale. RUMO ON, of the Cosan group, gained 3.1%, at 18.80 reais. Citi analysts raised Rumo’s share price target to 24 reais, from 22 reais previously.
– LOCAWEB ON yielded 3.9%, at 10.27 reais, heading for the third consecutive fall, after a five-session rally, during which it had increased by 32.4%.
– ITAÚ UNIBANCO PN fell 0.3%, to 28.93 reais, in negative session for large banks. BANCO DO BRASIL ON fell 1.1%, at 39.64 reais.
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