The Brazilian stock market saw a slight decline on October 18, 2024, influenced by global economic factors. The Ibovespa index closed at 130,499.26 points, down 0.22% for the day but ended the week with a 0.40% gain.
Commodity price downturn affected major companies like Petrobras and Vale, with Petrobras shares falling by 0.27% and Vale by 0.35%. Retail sector struggles were evident as well, with Lojas Renner and Magazine Luiza experiencing stock price drops.
Despite these challenges, some companies like Assaí and banking stocks like Bradesco and Itaú Unibanco showed positive growth. Marfrig emerged as the standout performer with a 5.97% surge.
Market Highlights:
Marfrig led gains, with Minerva and BRF following. In the currency market, the US dollar strengthened against the Brazilian real, closing at R$5.6989. The Brazilian government announced measures to support businesses affected by recent power outages in São Paulo.
Additionally, international events like China’s economic data release and Wall Street’s positive note impacted the Brazilian market. As October progresses, investors will monitor upcoming economic indicators closely.
In summary, the Brazilian market’s dynamics will continue to be shaped by a combination of domestic and international factors in the weeks ahead.