Ibovespa closes at a high driven by Vail and banks

The Ibovespa index ended Thursday with an increase of 1.73%, up to 114.7 thousand points. The movement did not track the behavior of international markets, which had a negative day despite a positive US GDP surprise.

The main positive driver of the Brazilian stock market was the companies of the mining sector, with an emphasis on Vale (+2.14%). This is due to the increase in iron ore prices, which occurred after the announcement of new economic incentives in China.

Vale’s shares were boosted by a US$2 billion dividend leak. Other companies in the sector such as Gerdau and CSN also stood out with increases of 1.58% and 2.26% respectively.

The dollar fell by 0.23% against the real dollar and was worth 4.99 reais. The approval of exclusive funds PL and IPCA-15 in line with expectations and a very benign opening helped to strengthen the day’s real.

In the local scenario, Confaz announced a R$0.15 increase in ICMS on gasoline, effective from February next year. ​​​​​​While this has had little impact on asset prices today, the measure adds approximately 13 basis points to IPCA 2024. In addition, an increase in the rate affecting the price of diesel has also been pushed forward, with knock-on effects.

On the political front, in addition to the approval of exclusive PL funds – which is now before the Senate – the payroll tax exemption has been targeted for the sanction of the President. These measures have a direct impact on the economic environment and are closely monitored by investors.

Check Also

Unilever reveals plans to return to growth and new…

Rozani RojaOctober 27, 2023 – 6:00 a.m In particular, the company’s food and ice cream …

Leave a Reply

Your email address will not be published. Required fields are marked *