By Andre Romani
SAO PAULO (Reuters) – The main Brazilian stock index turned higher on Friday, extending gains from recent sessions and again supported by commodities-linked papers.
Petrobras and Vale shares pushed the index forward, while B3 and Lojas Renner were at the opposite end, after results.
The session is for the expiration of stock options on B3. There are also expirations in the US, which can make trading more volatile.
At 12:07 pm (GMT), the Ibovespa rose 0.96%, to 114,161.76 points, close to the intraday high of 114,190.84 points (+0.98%), heading for the third consecutive rise. The financial volume was 10.850 billion reais.
At the lowest, the Ibovespa dropped to 112,474.76 points, down 0.54%.
For the week, the index was up 2.2%, the strongest since the week ended January 28.
“Ibovespa advanced to 113,000 points, but mainly driven by stocks linked to commodities, even though oil is unstable abroad,” said Camila Abdelmalack, economist at Veedha Investimentos.
The session “is one of volatility, and this improvement may dissipate throughout the day, with no defined bias for today”, says Pedro Galdi, an analyst at Mirae Asset Corretora.
The market remains attentive to the unfolding of the conflict in Ukraine, after peace talks, which boosted assets this week, cooled down. US President Joe Biden spoke on Friday with his Chinese counterpart Xi Jinping. Xi said conflicts and clashes like this are of no interest to anyone, according to Chinese state media.
The main indices on Wall Street operated without a single direction.
In Brazil, the unemployment rate stands out, which closed the quarter up to January at 11.2%, up 0.1 percentage point compared to the immediately previous period, but lower than expected by the market (11.4%). In addition, investors digest the announcement on the eve of an economic stimulus package.
HIGHLIGHTS
– B3 ON fell 2%, after the company’s profit grew 6% in the fourth quarter of 2021 over a year earlier, to 1.229 billion reais, against 1.27 billion reais in the average projection of analysts consulted by Refinitiv.
– LOJAS RENNER ON dropped 1.7%, following a net profit of 415.8 million reais in the last three months of last year, versus analysts’ expectations of a profit of 435.3 million reais.
– VALE ON rose 0.8%, following the advance of iron ore in China, driven by expectations of additional stimulus to support the economy of the world’s largest steel producer. USIMINAS PNA gained 1.6% and led the rise among steelmakers. Nickel tumbled again to the low limit in London, while aluminum rallied.
– PETROBRAS PN and ON rose 1.8% and 1.1%, respectively. Oil operated close to stability, while fears of political intervention in the company remained on the radar. 3R PETROLEUM ON advanced 4.4% and PETRORIO ON increased 0.8%.
– STONECO took off 37.9% in New York, as projections for the first quarter countered a more than 90% drop in the company’s adjusted net income in the fourth quarter from a year earlier. Citi raised the paper’s recommendation to ‘buy’ after the results.
– FLEURY ON retreated 3.4%, after its adjusted profit decreased 57.6% between October and December in the annual comparison, as higher expenses overshadowed the slight growth in revenues in the period.
– BR MALLS ON lost 0.9% after rejecting a new merger offer from ALIANSCE SONAE and reporting a 22.5% annual drop in fourth-quarter profit. Aliansce’s common shares, which are not listed on the Ibovespa, were up 2%.
– EZTEC ON appreciated 2%, while CYRELA ON rose 4.2%, after the companies announced results. In the energy sector, CPFL ENERGIA ON was 0.9% positive and ENERGISA UNIT grew 2.2%.
(Edited by José de Castro)
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