The Ibovespa starts the day down 0.56%, at 124,037.66 points, with several local and global factors impacting the markets. On the local scene, highlights include Vale’s shares (VALE3), which fell 1.1%, after a 1Q24 balance sheet below expectations. Petrobras shares (PETR4) rise 0.2%, awaiting the board’s decision on the distribution of extraordinary dividends. The large banks operate mixed, while cellulose shares, construction companies, junior oil companies, steel companies and most retailers decline. The commercial dollar spent the morning falling, but turned to a slight increase after 9:30 am, following the release of the US GDP. Now, it rises 0.47%, to R$5.172. The North American GDP, in fact, came in below what the market expected. The projection was for a 2.4% increase in GDP in 1Q24, but the increase was 1.6%. Local investors are still paying attention to Bernard Appy and Roberto Campos Neto’s speeches, starting at 10am. Appy details the tax reform regulation proposal sent by the government yesterday to Congress, and Campos Neto speaks at an event in Brasília. On Wall Street, futures indices are trading down more than 1% this Thursday (25), after Meta Platforms and IBM released their latest quarterly results and after the GDP for the 1st quarter. (Felipe Alves)
