While the market awaits the decision of the Central Bank’s Monetary Policy Committee (Copom) on the future of the Selic rate, the stock exchange today reversed the trading session’s losses and headed towards the end of the day on a high. The main Brazilian market index has a positive influence on Petrobras shares, which rose 1.50% this Wednesday. Thus, the Ibovespa registered an increase of 0.21% to 129,480 points.
On the other hand, the dollar started to rise against the real again in today’s trading session. The North American currency advanced to R$5.0908, an increase of 0.47% in the session.
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Check out the highlights of the stock exchange, Ibovespa, dollar and foreign indices today.
Ibovespa today
The Ibovespa opened lower at the beginning of the trading session. As the day drew to a close, on the eve of the Copom’s decision on the interest rate, the index turned around and began an increase to remain above 129 thousand points.
The prevailing estimate among economists and analysts is a 0.25 percentage point cut in the interest rate. “It is worth remembering that, with the sequence of drops in the Selic, the strategy is to stimulate both the economy and investments”, says André Luiz Rocha, variable income operator at Manchester Investimentos.
“With lower interest rates, consumers may feel encouraged to take out credit to purchase semi-durable goods. Companies, in turn, can expand or take credit for their own investments”, says Rocha.
Analysts highlight that Petrobras gave momentum to the Ibovespa turnaround. Abroad, prices for the futures contract for a barrel of Brent oil rose 0.72%, which helped the shares of the state oil company.
On the stock exchange, Petrobras’ common stock (PETR3) advanced 1.06%, while the PN share (PETR4) gained 1.53%.
On the other hand, the fall in iron ore on the international market put pressure on Vale’s shares. The mining company’s shares fell 0.91% on the Ibovespa today.
But today’s highlight was BRF (BRFS3). Shares in the poultry slaughterhouse, controlled by Marfrig (MRFG3), rose 11.17% after the company approved a share buyback program. The stock also had a recommendation updated by Bank of America, from sell to neutral.
But, in fact, the share with the biggest increase on the stock exchange today was Marfrig (MRFG3), 11.18%.
Dollar today advances in the pre-Copom
On the other hand, the dollar appreciated against the Brazilian real today, on the eve of the Copom. The North American currency advanced to R$5.0908, an increase of 0.47% in the session.
With the prospect of interest rate cuts, Rocha, from Manchester, mentions that there is pressure on the real because investors tend to withdraw money from contracts linked to Brazilian interest rates.
“A possible consequence of new Selic cuts is the devaluation of the real against other foreign currencies. This is because lower interest rates lead to less attractive returns,” he comments.
Abroad, the dollar gained strength against international pairs such as the yen and the euro. Thus, the DXY index, which compares the United States currency to a basket of important currencies, closed up 0.12%, at 105.54 points.
Best stocks on the stock market today
Considering all the shares present on B3, the best performance of the day on the stock exchange today was the Marfrig share (MRFG3). The meatpacking company’s assets rose 11.18%, an increase even greater than that of BRF (BRFS3).
Check below the five main rises on the stock market today, considering only shares that were part of more than a thousand purchase and sale negotiations.
- Marfrig ON (MRFG3): +11.18%
- BRF SA (BRFS3): +11.17%
- Lojas Quero-Quero ON (LJQQ3): +10.55%
- D1000 Farma ON (DMVF3): +6.35%
- Lojas Renner ON (LREN3): +5.78%
Worst stocks on the stock market today
Oncoclínicas (ONCO3) had the worst performance on the stock exchange today. Shares fell nearly 16% on the stock market.
See below the five main falls on the stock market today. The ranking follows the same criteria as the list of best stocks.
- Oncoclinics ON (ONCO3): -15.93%
- Hi BR ON (OIBR3): -9.33%
- Petz ON (PETZ3): -6.02%
- Pão de Açúcar ON (PCAR3): -5.88%
- Telefônica Brasil ON (VIVT3): -5.63%
New York Stock Exchanges Today
The New York stock exchanges ended today’s trading session without a single direction, remaining that way since the beginning of the afternoon. After comments from Federal Reserve (Fed) officials that revealed little about the future of monetary policy in the United States, markets were left without drivers to establish a movement.
The Dow Jones index closed up 0.44%, at 39,056.39 points, and extended its longest positive streak of 2024 to six trading sessions. The S&P 500 closed stable, at 5,187.67 points, and the Nasdaq dropped 0.18%, at 16,302.76 points.
European stock exchanges today
The main ones European stock indices ended this Wednesday’s session (8) on a firm high, amid another wave of quarterly results of companies in the region that pleased the market, while reacting to the cut us fees made by central bank of Sweden. The Bank of England’s monetary policy decision (BoE), which come out tomorrow, was also on investors’ radar.
The index Stoxx 600 rose 0.33% to 515.72 points, with the food and beverage sector leading the gains by rising 1.7%. O DAXfrom Frankfurt, advanced 0.37%, to 18,498.38 points, the CAC 40from Paris, recorded a gain of 0.69%, to 8,131.41 points, and the FTSE 100on the London Stock Exchange, rose 0.49%, to 8,354.05 points.
With information from Pro Valuereal-time news service from Economic value
Financial Intelligence is a journalistic channel and this content should not be interpreted as a recommendation to buy or sell investments. Before investing, check your investor profile, your objectives and always stay well informed.
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