The Ibovespa closed higher this Wednesday, after changing its sign a few times during the trading session, which had Cielo soaring after the quarterly result, as well as consumer stocks had a strong appreciation before a decision that could end the current cycle of monetary tightening in the country. .
Wall Street endorsed the second straight advance on the São Paulo stock exchange, which, however, was mitigated by the decline of stocks linked to commodities, mainly mining and steel, amid concerns about China.
Reference index of the Brazilian stock market, the Ibovespa rose 0.4%, to 103,774.68 points, having reached 103,878.29 points at the highest and 102,822.02 points at the lowest of the day. The financial volume totaled 22.2 billion reais.
The Central Bank’s Monetary Policy Committee (Copom) announces a decision on interest rates later this Wednesday, with most forecasts pointing to a 0.50 percentage point increase in the Selic, currently at 13.25%. Agents await the announcement of the decision, to seek clues about the BC’s next steps.
In the view of Bruno Komura, an analyst at Ouro Preto Investimentos, expectations that this increase in the Selic rate will be the last of this cycle of monetary tightening supported the positive movement in the stock market, particularly in securities such as retail.
“Many retail stocks, which are very sensitive to inflation, tightening financial conditions, are benefiting, as are growth companies,” he said.
At the other end, highlighted the analyst, actions linked to commodities, mainly in the mining and steel sectors, pulled the Ibovespa down, given the prospects that the Chinese real estate sector is not reacting as it should to the stimuli in that country.
He mentioned that Gerdau had an exceptional result and even so the share dropped a lot, as did Vale, CSN, “very much a reflection of the negative perspective in relation to China”, he quoted.
On Wall Street, positive earnings outlook from Paypal and CVC Health pushed the Nasdaq Composite to a high of three. The S&P 500 advanced 1.6%.
– CIELO ON closed up 9.73%, at 4.85 reais, the highest since August 2020. The largest electronic payment company in Brazil more than tripled its profit in the second quarter in the year-on-year comparison, surpassing handily the forecast of analysts. For BTG Pactual, the result was excellent. Cielo also announced the departure of the chief executive and a new cycle focused on digital transformation, as well as approving 224.2 million reais in interest on equity.
– VALE ON fell 3.89%, at 67.52 reais, more than returning the strong appreciation the day before (+3.19%), in a session of strong decline in the mining and steel sector on the Brazilian stock exchange. Iron ore futures fell on the Dalian and Singapore exchanges on Wednesday, as the crisis involving developers in China, the world’s largest steel producer, outweighed the improvement in margins at mills.
– GERDAU PN dropped 4.06%, to 23.41 reais. The steelmaker reported a quarterly profit of 4.3 billion reais, driven by sequential growth in domestic sales and a strong performance in North America, where it said it was operating at full capacity. The steelmaker also announced dividends. In earnings conference calls, company executives said they expect a historic year and that the company will not change its dividend policy in the short term.
– VIA ON closed up 11.49%, at 2.62 reais, with consumer papers in this session among the biggest increases on the Ibovespa with an eye on the Copom decision. MAGAZINE LUIZA ON increased 8.12%, at 2.93 reais, and AMERICANAS ON rose 7.12%, at 14.74 reais.
– IGUATEMI UNIT rose 2.46%, to 20.43 reais, after strong operating results in the second quarter, although within market forecasts. Ebitda was 166.7 million reais, up 61% year on year, with the Ebitda margin going from 60.7% to 65.7%. The company expects to maintain the pace of sales in the coming months. The company is also interested in increasing stakes in malls in its portfolio.
– PETROBRAS PN advanced 0.15%, at 33.88 reais, on a day of falling oil prices abroad, where Brent ended down 3.7%, at 96.78 dollars a barrel.
– ITAÚ UNIBANCO PN closed up 0.72%, at 23.89 reais, while BRADESCO PN rose 1.58%, at 17.95 reais.