Brazil’s Ibovespa Falls on Weak Economic Data, U.S. GDP Surprises
The Ibovespa index experienced a downturn on Thursday, reflecting a market correction. This movement occurred alongside the release of lower-than-expected IGP-M economic data.
The market is still assimilating the nomination of Gabriel Galípolo as the next president of the Brazilian Central Bank.
Closing slightly down by 0.95%, the Brazilian stock market‘s main index ended the day at 135,041.57 points, according to preliminary data.
Internationally, the U.S. economy reported stronger than anticipated growth, with a GDP increase of 3% in the second quarter of 2024. This growth surpassed market expectations of 2.8%.
Sector Highlights: Iron and Turbulence
In stock performance, Gerdau (GGBR4) and CSN Mineração (CMIN3) enjoyed gains of 2.38% and 1.62%, respectively, riding the upward trend in iron ore prices.
Conversely, Azul (AZUL4) saw its shares plummet by 23.45%, significantly impacted by the airline’s debt negotiation news.
Azul is exploring options, including a potential equity offering, as it faces debt obligations and is considering seeking creditor protection in the U.S.
Other notable declines included EzTec (EZTC3) and Pão de Açúcar (PCAR3), which fell by 4.38% and 4.86%, respectively, amid rising future interest rates.
Currency Fluctuations
The U.S. dollar concluded the day up by 1.19% against the Brazilian real, trading at R$ 5.62.
Silva highlighted a potential range of stability for the dollar between R$ 5.48 and R$ 5.69 in the coming days. This prediction holds barring any unforeseen news domestically or internationally.
This day in the market underscores the interplay between local economic developments and broader global economic trends. It reflects the ongoing adjustments and speculations that drive financial markets.
Key Facts
— Deep Dive
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+0.46%
183,827.59
+0.46%
65,071.30
+0.20%
11,055.91
-0.73%
2,782,561
-0.59%
2,558.92
-0.79%
60,220.45
+0.32%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 183,827.59 | +0.46% | +21.85% | 182,991.13 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
— For the complete picture, read our in-depth guide: Latin America Stock Markets 2026: Ibovespa, Merval, COLCAP, IPSA and IPC Guide
More: Brazil news in English, every day from The Rio Times.
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