The Ibovespa, Brazil’s main stock index, ended a six-day losing streak with a slight increase on Monday, reaching 124,495.68 points. The trading volume was low due to holidays in the U.S., U.K., and upcoming holiday in Brazil. Despite fluctuations, the commercial dollar closed at R$5.17, and future interest rates fell.
Christian Iarussi from The Hill Capital noted the calm market with the absence of significant data releases. A luncheon with Central Bank President Roberto Campos Neto addressed recent decisions and the crisis in Rio Grande do Sul.
Key Market Movements
Petrobras rose 1.09%, Vale remained stable, and Magazine Luiza fell 0.38%. Enauta and Embraer rose, while Gol and Azul fell post a strong Friday. Banco do Brasil stood out with a 1.22% rise and announced a JCP distribution exceeding R$1.1 billion.
Looking ahead, Brazil’s Congress will vote on taxing purchases, and the government plans a payroll tax exemption project. Key data releases include IPCA-15, Caged, and PNAD, along with U.S. quarterly GDP and PCE inflation data.
The upcoming events could impact the market, making this week crucial for investors to watch.