Last Friday, the Ibovespa index closed at 128,150.71 points, with a small decline of 0.10%, but still marked a weekly gain of 0.43%. This positive trend was influenced by external factors like China and rising iron ore prices, which also led to a drop in the commercial dollar exchange rate.
The political scene also had a significant impact on the market, particularly with the unexpected dismissal of Petrobras’ CEO by President Lula da Silva. This move raised concerns about government intervention and resulted in a 1.72% decrease in Petrobras stocks.
Despite these fluctuations, the financial sector remained resilient, with some banks showing minor gains. The meatpacking industry also saw a mixed performance, with companies like JBS and Marfrig recording gains while others experienced slight losses.
Market Highlights and Economic Outlook
3R Petroleum and Enauta saw positive movements post-merger approval, reflecting the ongoing adjustments in the market. Santander Brasil also revised its economic growth forecast upward, citing a strong labor market outlook.
As the market shifts focus to the Federal Reserve’s upcoming minutes, investors continue to navigate the complexities of Brazil’s economic landscape.