Bloomberg Línea — O Ibovespa (IBOV) advances this Tuesday (7), on the first day of the Copom monetary policy meeting, which will decide tomorrow the direction of interest rates in the country.
At around 10:30 am (Brasília time), the index rose 0.6%, to 129,223 points, while the dollar gave up 0.31%, to R$5.06. The session is one of gains for the shares of OK (VALE3), which rose around 1.2% at the same time.
Investors continue to reflect on the first quarter’s balance sheet harvest, with numbers from companies such as UBS, Disney, as well as Carrefour Brasil (CRFB3), Vivo (VIVT3), Pão de Açúcar (PCAR3) and PetroRio (PRIO3).
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Yesterday, Itaú Unibanco (ITUB4) reported adjusted net profit of R$9.77 billion in the first quarter, a figure slightly above the consensus of analysts consulted by Bloomberg (R$9.716 billion).
In the United States, statements by members of the Federal Reserve are on the radar, such as the statement by Neel Kashkari, president of the Minneapolis Fed.
Stock markets are getting a boost as investors become more optimistic about the timing of potential Fed interest rate cuts following last week’s weak U.S. jobs data.
In Brazil, attention remains focused on Rio Grande do Sul, where heavy rains have already caused 90 deaths since last week and new storms are expected in the coming days.
Faced with the biggest climate tragedy in the state and one of the biggest in Brazil, the federal government and the National Congress began to approve measures to assist the population and begin reconstruction work in the more than 330 cities affected by heavy rains.
The Chamber of Deputies approved on Monday night (6) a draft legislative decree sent by the federal government that recognizes the state of public calamity in Rio Grande do Sul until December 31, 2024. The measure must still be approved by the Senate this Tuesday (7).
With the project, limits and deadlines set out in the Fiscal Responsibility Law may be suspended, which speeds up the transfer of federal resources to the state affected by floods. Money used for this purpose will also not be subject to commitment limitations.
On Monday (6), Planning Minister Simone Tebet said that the government still does not have estimates of how much will be needed to rebuild the state, but added that the 2024 fiscal target will be maintained.
