Ibovespa closes down 0.33%; dollar rises with fiscal, local and US balance sheets on radar

The Ibovespa closed down 0.33%, at 124,740.69 points this Wednesday (24/04), with the market awaiting important corporate balance sheets, such as from Vale (VALE3). Furthermore, fiscal issues affected investors’ mood and economic data remains on the radar for the rest of the week.

“The main stock market index falls on another day of rising future interest rate curves, reflecting a deterioration in global macro sentiment”, says Jaqueline Kist, capital market specialist and partner at Matriz Capital.

In this sense, investors have shown caution following the rise in inflation expectations in Brazil for 2025 and GDP in 2024 in this week’s Focus Bulletin, with an eye on the IPCA-15 and the March PCE in the USA to be released on Friday .

Dollar

The dollar closed higher, with an increase of 0.34% against the real, quoted at R$5.1477. Investors took advantage of a new global wave of strengthening of the American currency and rising Treasury rates to take profits and adjust positions in the domestic market.

Likewise, abroad, the global dollar index, the DXY, advanced 0.14%, to 105.82 points.

Tax issue impacts stock market

The Chamber of Deputies approved a tax exemption of 5 billion per year until 2026 for the events sector after voting to maintain Perse, a tax incentive program created during the pandemic.

As a result, more than 30 sectors will benefit, including bars and restaurants.

However, companies with revenues above R$78 million will not be entitled to exemption from IRPJ and CSLL from 2025 onwards.

Furthermore, the Senate can vote on the device related to the fiscal framework that allows the government to anticipate 16 billion in expenses in the 2024 budget.

Stocks on the rise

See the trending stocks on the stock market, highlighting the five biggest rises.

Technos (TECN3) 9.41%
Zamp (ZAMP3) 6.85%
Infracommerce (IFCM) 6.76%
Cruzeiro do Sul (CSED3) 5.47%
PetroReconcavo (RECV3) 4.74%

Stocks down

Also find out which stocks had the biggest declines.

Clearsale (CLSA3) -16.45%
Azevedo and Travassos (AZEV4) -12.59%
Viveo (VVEO3) -9.89%
Petz (PETZ3) -9.51%
Ambipar (AMBP3) -8.16%

The rankings include larger volume stocks that do or do not make up the Ibovespa and other indices. The prices were determined between 5:45 pm and 5:55 pm.

World Stock Exchanges: New York

The New York stock exchanges closed without a single direction and close to stability amid pressure from Treasuries, which mitigated the positive effect of Tesla’s 12% jump after the earnings release. Investors also waited for the results of giants like Meta and the first reading of the US Gross Domestic Product (GDP) in the first quarter.

The Dow Jones index fell 0.11%, to 38,460.92 points. The S&P 500 rose 0.02%, to 5,071.63 points. The Nasdaq gained 0.10%, at 15,712.75 points.

Tesla soared 12.06%, after the company’s CEO, Elon Musk, confirmed plans to develop a low-cost car, which left the disappointing profit and revenue in the first quarter in the background. AT&T rose 1.88%, following higher-than-expected profits.

Europe

European stock markets closed lower, with caution over monetary policy. Although the European Central Bank (ECB) has been signaling that it should cut interest rates in June, there is uncertainty about the next steps.

This Wednesday, ECB director Joachim Nagel stated that the first reduction will not necessarily be followed by a series of declines. In addition, the day featured the release of balance sheets from important companies in the region.

The pan-European Stoxx 600 index fell 0.45% to 505.51 points. In Frankfurt, the DAX fell 0.30%. In Madrid, where the Ibex 35 fell 0.43%, to 11,027.80 points. The FTSE 100, in London, fell 0.06%, to 8,040.38 points. In Milan, the FTSE MIB fell 0.27%, to 34,271.12 points. In Lisbon, the PSI 20 fell 0.95%, to 6529.93 points.

*With information from Estadão Conteúdo.