Ibovespa opens higher with Vale (VALE3) among the biggest gains; Petz (PETZ3) leads losses, Magazine Luiza (MGLU3) retreats and dollar advances

O Ibovespa opened this Wednesday’s session (24) on a high, and at around 10:20 am, the index advanced 0.14% to R$ 125,325 points.

O Petroleum operates in decline this morning, while the Petrobras appears positive: Petrobras ON (PETR3), +0.51% at R$43.68 and Petrobras PN (PETR4), +0.58% at R$41.65.

Already the iron ore closed up 3.08% this morning in Dalian, China. In this wake, and in anticipation of tonight’s results, the OK (VALE3) rises 1.55% to R$63.75.

The biggest increase in Ibov at the beginning of the session it is PetroReconcavo (RECV3), +2.89% at R$21.70, following the possibility of a merger with Eneva (ENEV3). CSN (CSNA3), +1.60% at R$14.64, and the Vale sharescomplete the top-3.

At the negative end of the Bovespa indexPetz (PETZ3) leads the losses with -2.91% at R$5, followed by Magazine Luiza (MGLU3), -2.08% at R$1.41 and Grupo Soma (SOMA3), -1.13 % at R$6.10.

On investors’ radar

The market is keeping an eye on how the earnings season unfolds in both Brazil and the United States. Here, the focus is on Vale, which reports its 1Q24 numbers this Wednesday, after the market closes.

Abroad, one of the highlights is Tesla, which reported a drop in profit, but reported that it should present new models by the beginning of next year.

Back domestically, investors are also keeping an eye on the fiscal scenario, after federal revenue reached a record of R$190.6 billion in March.

Biggest highs and lows of Ibovespa

Dollar exchange rate

A dollar exchange rate today advances 0.51% to R$5.1523.

O Dolar today follows the rise in treasuries in the United States, with investors awaiting economic data to be released there.

Asian stock markets close higher with NY boost

Asian stock markets closed broadly higher this Wednesday (24), supported by Wall Street, which rose yesterday for the second day in a row.

Leading gains in Asia today, the Taiex index jumped 2.72% in Taiwan to 20,131.74 points, while Japan’s Nikkei rose 2.42% in Tokyo to 38,460.08 points. The Hang Seng advanced 2.21% in Hong Kong, to 17,201.27 points, and the South Korean Kospi rose 2.01% in Seoul, to 2,675.75 points.

In mainland China, the day was also one of gains, of 0.76% in the Shanghai Composite, at 3,044.82 points, and 1.18% in the less comprehensive Shenzhen Composite, at 1,694.82 points.

The risk appetite came after the New York stock exchanges rose for the second session in a row yesterday, in reaction to weak US balance sheets and PMIs, which improve the chances of the Federal Reserve (Fed, the US central bank) advancing plans to cut fees.

In Oceania, the Sydney stock exchange was practically stable today, with a marginal drop of 0.01% in the S&P/ASX 200, at 7,683.00 points, after higher-than-expected Australian inflation figures generated uncertainty about a reduction in the local basic interest.