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Ibovespa, Brazil’s primary stock index, ended Thursday’s session with a 0.25% increase, reaching 123,357.55 points. The exchange rate for the commercial dollar also went up by 0.02%, reaching R$ 5.75.
The Ibovespa showed significant fluctuations today due to external factors such as Donald Trump’s changing tariffs and anticipation of the 2024 Brazilian GDP report on Friday.
The US dollar index, known as the DXY Chart, ended the day at $104.04 with a decrease of 0.25%.
The trade conflict between the US, Canada, Mexico, and China is having an impact on global markets as the US President imposed a 25% tariff on imports from neighboring countries and a 10% tariff on Chinese goods on Tuesday (24), but later reversed the decision.
Earlier, during the evening session, Trump chose to delay the tariffs on automakers by a month, leading to a sense of relief for Ibovespa and other worldwide stock indices.
The Republican delayed the tax on Canada and Mexico for one month during this meeting, with no mention of tariffs on Chinese products.
Trump’s ruling applies to items that are subject to the terms of the trade deal known as the United States-Mexico-Canada Agreement, which was signed by Trump during his initial presidential term.
In the US, the number of new applications for unemployment benefits fell to 221,000 in the week ending on March 1, a decrease of 21,000 from the previous week and lower than the experts’ forecast of 245,000.
Fernando Bresciani, an investment analyst at Andbank, said that this led to an anticipation of an improved economy.
The ECB’s move to reduce the interest rate from 2.75% to 2.50% suggests the possibility of more cuts, but caution is advised. Bresciani suggests that the bank should pause and await further developments.
Ibovespa mirrored changes in the commodity market, with Vale (VALE3) rising for the second consecutive session, while Petrobras (PETR4) saw a new drop in stock prices despite a slight increase in oil prices following the losses the day before.
The industry is under pressure from OPEC+ confirming its intention to proceed with the plan to increase oil production starting in April, following a period of cuts that had been pushing prices higher.
“Tomorrow is a significant day with the release of the fourth-quarter GDP, the 2024 GDP, and the February employment report in the USA. It is crucial to follow these updates to understand the implications,” stated Bresciani.
Natura (NTCO3) saw the highest increase in the Ibovespa, rising by 5.83%. CPFL (CPLE3) and Automob (AMOB3) followed with gains of 5.03% and 4.17% each.
Marcopolo (POMO4) was the top loser, dropping 8.60%, followed by GPA (PCAR3) and Marfrig (MRFG3), which both saw losses of 2.80% and 2.74%, respectively.
Vale (VALE3) is continuing to show strong high performance in both the high and low levels of the Ibovespa.
Petrobras’ stocks (PETR3;PETR4) in the oil industry dropped by 0.75% and 1.04% each, while Prio (PRIO3) increased by 0.29%.
Vale’s stock went up by 1.10% amidst the mining and steel mills operations. Gerdau also saw a 1.20% increase, while Usiminas experienced a similar 1.20% rise.
Itaú and Banco do Brasil in the banking industry had a maximum increase of 0.19% and a minimum decrease of 0.14%. Bradesco and Santander then saw gains of 0.84% and losses of 0.90%, respectively.
Magazine Luiza’s stock dropped by 2.34%, while American Shops’ shares increased by 2.96%. Casas Bahia saw a significant rise of 14.34%.
External indicators ended in opposite directions
The primary European stock markets showed gains on Thursday (6). The Frankfurt DAX index increased by 0.90%, the Paris CAC 40 rose by 0.29%, and the pan-European Stox 600 index went up by 0.13%.
In Wall Street, the S&P 500 and Nasdaq indexes rose by 1.78% and 2.61% each, while the Dow Jones decreased by 0.99%.
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