On the first day of Copom meetings, the Ibovespa closed up 0.58% at 129,210 points, despite mixed results from New York’s markets.
The commercial dollar dipped 0.12% to R$5.06, while futures interest rates dropped across the curve, highlighting a positive day for Brazil.
Analysts predict a small reduction in the Selic rate by 0.25% to 10.5% annually, based on a survey of 25 hedge fund managers by XP.
The survey also noted a weakened outlook for the economy. “Risk appetite has decreased, with fewer positive perspectives and a considerable increase in neutral positioning,” the report mentioned.
First-quarter results drew risk-friendly investors. Itaú Unibanco (ITUB4) rose 2.07%, achieving consistent, record-breaking results.
“A solid increase in revenue, moderated growth in credit costs, and expenses led to a net profit of R$9.8 billion,” XP highlighted.
This set an annualized return on equity (ROE) of 21.9%, up 120 basis points from last year. It also announced an extra dividend.
Vamos (VAMO3) posted a remarkable 13.05% gain due to higher profits, while Rede D’Or (RDOR3) surged 9.33% on renewed Q1 2024 growth. CCR (CCRO3) advanced 2.8% as profits increased.
Market Highlights
In contrast, Embraer (EMBR3) fell 2.01%, despite strong results that left investors unenthused.
Enauta (ENAT3) initially rose but closed down 3.27% despite a 70% profit increase. PRIO (PRIO3) slipped 0.04% as investors awaited its performance report.
However, Suzano (SUZB3) experienced the biggest drop, falling 12.27% after reportedly reaching out to International Paper for a possible $15 billion all-cash offer.
Despite market optimism, investors remain concerned about the fiscal impact of Rio Grande do Sul’s recent flooding.
The House of Representatives declared a public calamity in the state until December 31, 2024. President Lula assured that “resources will not be lacking,” with R$1.3 billion earmarked for aid.
The government’s focus on flood relief is crucial, given warnings of further flooding. These conditions could negatively affect Brazil’s GDP and inflation, particularly with rising rice prices.
Wednesday’s March retail data and Copom’s final decision add to a tense atmosphere for the markets.
Deep Dive
For the complete picture, read our in-depth guide: Latin America Stock Markets 2026: Ibovespa, Merval, COLCAP, IPSA and IPC Guide
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+2.44%
177,547.57
+2.44%
67,298.78
+0.88%
11,009.22
+0.50%
3,379,771
+0.00%
2,297.00
-0.19%
57,575.02
—
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 177,547.57 | +2.44% | +32.46% | 173,325.65 | — | — | — |
| USD/BRL | 5.08 | +0.55% | -8.67% | 5.05 | 5.08 | 5.04 | — |
| SELIC | 14.25% | — | — | — | — | — | |
| PETR4 | 42.58 | +2.21% | +35.82% | 41.66 | 42.74 | 41.97 | 38,183,300 |
| VALE3 | 75.10 | +3.96% | +30.61% | 72.24 | 75.25 | 73.34 | 17,699,600 |
| ITUB4 | 42.90 | +0.87% | +26.25% | 42.53 | 42.98 | 42.27 | 21,968,600 |
| BBDC4 | 18.97 | +2.26% | +21.37% | 18.55 | 18.97 | 18.50 | 36,435,800 |
| BBAS3 | 21.09 | +1.01% | +6.03% | 20.88 | 21.13 | 20.72 | 19,245,300 |
| B3SA3 | 15.90 | +4.81% | +21.65% | 15.17 | 15.92 | 15.21 | 46,018,300 |
| ABEV3 | 16.13 | +2.09% | +20.37% | 15.80 | 16.14 | 15.74 | 28,786,900 |
| WEGE3 | 46.74 | +10.05% | +13.12% | 42.47 | 47.06 | 44.80 | 34,056,700 |
| PRIO3 | 59.77 | +2.73% | +40.37% | 58.18 | 59.99 | 58.66 | 5,034,400 |
| SUZB3 | 42.66 | +2.47% | -16.78% | 41.63 | 42.69 | 41.65 | 4,974,100 |
| RENT3 | 37.14 | +1.61% | +3.74% | 36.55 | 37.57 | 36.42 | 16,101,400 |
| AZZA3 | 17.81 | +1.89% | -50.51% | 17.48 | 17.81 | 17.06 | 1,753,800 |
| CSNA3 | 5.38 | +6.32% | -37.15% | 5.06 | 5.43 | 5.09 | 13,057,800 |
| GGBR4 | 24.06 | +2.43% | +42.28% | 23.49 | 24.09 | 23.46 | 7,453,900 |
| ENEV3 | 25.97 | +2.16% | +88.19% | 25.42 | 26.08 | 25.32 | 5,925,700 |
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