Ibovespa Hits 126,000 Points Amid Strong Economic Data
The Brazilian stock market witnessed a remarkable upturn as the Ibovespa index climbed to 126,000 points. This surge was fueled by stronger-than-anticipated economic data from both Brazil and the United States.
The main Brazilian stock index rose by 0.72% to 126,139.20 points on Tuesday, December 3, 2024. Meanwhile, the US dollar closed at R$ 6.0584, marking a 0.16% decrease.
This was the first decline since the fiscal package announcement on Wednesday, November 27. The market’s focus shifted from fiscal concerns to the unexpectedly robust Gross Domestic Product (GDP) figures.
Brazil’s GDP grew by 0.9% in the third quarter of 2024 compared to the previous quarter. The total GDP in current values reached R$ 3 trillion. Year-over-year, the economy expanded by 4%.
These results, released by the Brazilian Institute of Geography and Statistics (IBGE), aligned closely with market expectations of 0.8% quarterly growth and 4% annual growth.
Felipe Salto, chief economist at Warren Investments, noted that economic activity data indicated a robust performance through September. However, he predicted a shift in this trend between late 2024 and the following year.
Stock Market Highlights
Salto suggested that the Central Bank might maintain a more restrictive monetary policy due to unanchored inflation expectations and recent currency strengthening.
Among the Ibovespa stocks, Brava Energia (BRAV3) saw a notable increase of over 7% during the trading session. This surge was driven by the strong performance of Brent crude oil.
Petrobras (PETR4;PETR3) also extended its gains from the previous day, benefiting from the oil market’s strength. BRF (BRFS3) stood out following Itaú BBA’s target price increase for its shares.
The bank’s analysts believe that the current valuation of the company already factors in the benefits of the supercycle, justifying a neutral recommendation for the meatpacker’s stock.
Hapvida (HAPV3) was among the top gainers on the Ibovespa and the most traded stocks on B3 after announcing a R$ 2 billion investment plan for expanding its infrastructure over the next two years.
On the downside, LWSA (LWSA3) continued its decline for the fifth consecutive trading session. The former Locaweb maintained its downward trend following Citi’s downgrade of its stock recommendation from buy to neutral/high risk.
Among the heavyweight stocks, Vale (VALE3) ignored the positive performance of iron ore in China. The market closely followed the company’s annual event with investors and analysts, known as Vale Day.
Vale’s CEO, Gustavo Pimenta, stated that an iron ore price of $90 per ton represents an “equilibrium point” in the industry. In the United States, stock indices closed mixed, with the S&P 500 and Nasdaq reaching new record highs.
Investors reacted to economic data and statements from Federal Reserve officials. The Jolts report showed an increase in job openings to 7.744 million in October, surpassing economists’ expectations.
European markets also saw gains, with the Stoxx 600 index rising 0.37% to 515.53 points, marking its fourth consecutive session of growth. The German DAX index briefly touched the 20,000-point mark for the first time.
Key Facts
— 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
+0.30%
175,664.62
+0.30%
65,484.32
-0.53%
11,445.90
-0.22%
2,979,472
-0.72%
2,457.87
-1.28%
60,779.49
-1.40%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 175,664.62 | +0.30% | +21.85% | 175,135.41 | 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 |
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