SAO PAULO (Reuters) – The main Brazilian stock market index closed with a slight gain on Wednesday, having been close to zero for most of the session. The advance of commodity stocks counteracted the negative external influence, given the reduction of expectations of progress in negotiations between Russia and Ukraine.
Vale and Petrobras advanced, in the wake of increases in iron ore and oil, respectively, while the health sector had a negative performance.
The Ibovespa rose 0.20% to 120,259.76 points. The financial volume of the session was 26.1 billion reais.
Regis Chinchila, an analyst at Terra Investimentos, said that Vale and Petrobras counterbalanced “some movement towards (profit) realization”, noting that the Ibovespa remained in the range of 120 thousand points, even with a scenario of uncertainties.
The move went against the grain of Wall Street, with a setback in market expectations after the Kremlin said there was no sign of progress in negotiations with Ukraine, a day after it said it would reduce attacks in the region.
Investors also kept an eye on economic data such as the US Gross Domestic Product (GDP), which came in just below projections, while private sector hiring beat expectations. On Friday comes the payroll, the main North American labor data, which can calibrate bets for the next interest rate hike in the country.
In Brazil, inflation, public debt and central government data were in focus.
HIGHLIGHTS
– PETROBRAS PN rose 2.1%, as Brent crude rose 2.9% amid stagnation in negotiations to end the conflict between Russia and Ukraine.
– VALE rose 1.4%, after iron ore gains in Asia on expectations of robust demand in China when Covid-19 restrictions are lifted. CSN ON gained 2.5% and pulled steel mills.
– REDE D’OR ON fell 3.3%, even after a 38.5% increase in fourth-quarter profit compared to the same period in 2020. SULAMERICA UNIT, which is in the process of being acquired by Rede D’Or, lost 2, two%. D’Or executives avoided giving projections of business synergies.
– QUALICORP ON retreated 6%, after the company posted a 25% drop in fourth-quarter profit, year on year, reflecting a more negative financial result, while revenue was almost stable. The president of Rede D’Or said that the company should continue as a minority shareholder in Qualicorp.
– BTG PACTUAL UNIT fell 3% after agreeing to buy control of the bankrupt estate of Banco Econômico.
– MÉLIUZ ON grew 2.7%, after fourth quarter results.
– HYPERA ON rose 1.1% and BLAU ON, which is not on the Ibovespa, fell 0.5%, after advancing up to 4.8% earlier. The day before, the Y Factor was announced, a variable used in the calculation of readjustments in drug prices in the country. From it, bank analysts calculated a ceiling for the increase in drug prices of 10.89% this year. Among drugstores, RAIA DROGASIL ON rose 0.8%.
– CBA ON ceded 6%, after announcing that its parent company Votorantim is evaluating follow on. FRAS-LE ON fell 0.2% after launching an equity offering.
(By Andre Romani)
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