Ibovespa seeks traction ahead of Fed decision By Reuters


© Reuters

By Paula Arend Laier

SAO PAULO (Reuters) – The market was rehearsing a rise on Monday, after fragility at the beginning of the session, given the improvement of stock markets in New York, but caution continued to prevail in the markets ahead of the Federal Reserve’s interest rate decision this week.

At 11:40, the Ibovespa rose 0.51% to 109,837.41 points. At the worst moment, earlier, it reached 108,507.76 points. The financial volume totaled 6.4 billion reais.

On Wall Street, the rose 0.15%, while the European retreated 0.21%. The 10-year Treasury yield even jumped earlier to its highest level since 2011.

The central bank of the United States announces its decision on Wednesday, and the majority expectation is for a rise of 0.75 percentage point. But there are also 1-point raise bets, as well as agents waiting for signs about the next steps.

In addition to the Fed, the monetary authorities of England, Japan and China, among others, also meet to adjust their policies, as does the Central Bank of Brazil, which most in the market sees maintaining the Selic at 13.75% per year.

Technical analysis by the Itaú BBA team says that the scenario is under pressure, but still with most of the B3 indexes (BVMF:) above important supports, which feeds an expectation of resilience for the Ibovespa.

“However, it is worth remembering that the international markets are far from important resistances”, they observed, also citing that if the Ibovespa loses the support region between 109,800 and 107,800 points, there are risks of more accentuated drops.

HIGHLIGHTS

– COGNA ON (BVMF:) rose 5.86%, at 2.71 reais, on a positive day for shares in education companies, after a fall last week, with MEC’s ​​decision involving online courses on the radar. YDUQS ON (BVMF:) was up 8.81% at 11.73 reais.

– MRV ON (BVMF:) dropped 3.03%, at 12.17 reais, after hitting the fourth week in a row with appreciation last Friday, a period in which it accumulated a gain of around 28%. The real estate sector index dropped 0.13%.

PETROBRAS PN (BVMF:) rose 0.91% to 31.06 reais, reversing the earlier drop, after an improvement in the international market. Still, the benchmark contract was down 1.01% at $90.43 a barrel.

– VALE ON (BVMF:) advanced 0.81% to 68.8 reais, despite a drop in futures contracts on the Dalian and Singapore exchanges this Monday, pressured by concerns about demand in China.

– ITAÚ UNIBANCO PN (BVMF:) increased 1.65%, at 27.12 reais, and BRADESCO PN (BVMF:) rose 0.84%, at 19.2 reais.

– MINERVA ON (BVMF:) was down 0.92% at 14.05 reais, in a negative session for protein companies on the Ibovespa, with MARFRIG ON (BVMF:) falling 2.11%, BRF ON (BVMF:) yielding 0.94% and JBS ON (BVMF:) falling 0.76%.

– HYPERA ON advanced 2.9%, at 43.31 reais, against the background of sales noise. According to columnist Lauro Jardim, from the newspaper O Globo, the pharmaceutical company hired Citibank, in New York, to advise the company in a possible sale process.

– TIM ON (BVMF:) dropped 1.31%, at 12.02 reais, after asking together with the telecommunications operators Claro and Telefônica Brasil (BVMF:) for a reduction of 3.2 billion reais in the total purchase price from Oi (BVMF:) Mobile. TELEFÔNICA BRASIL ON rose 0.89% and OI ON collapsed 9.43%.

– BMI ON soared 11.79%, at 2.18 reais, after signing an agreement to sell its restaurant operation at Tocumén International Airport, in Panama, to Inflight Holdings Cayman for 40 million dollars, marking its departure from the country.

(Edited by André Romani)

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