On Wednesday, the Ibovespa (IBOV) extended its winning streak to five days, with Vale’s (VALE3) share recovery significantly boosting the index.
The Ibovespa edged up by 0.09%, closing at 130,031.58 points, unaffected by Wall Street’s downturn after the Federal Reserve’s meeting minutes were released.
The Fed’s documentation indicated a general concern about prematurely lowering U.S. interest rates.
Some members warned against a too-strict policy, fearing economic repercussions.
Consequently, the Fed seeks more proof of inflation decline before altering monetary policies, delaying anticipated interest rate cuts until June.
In response to fresh corporate earnings, the local market saw notable movements. Weg (WEGE3) surged by 6.77% after a profitable quarter and announced a significant dividend payout.
Gerdau (GGBR4) also gained, up 1.87%, despite a profit drop and falling iron ore prices.
Vivo (VIVT3) advanced by 0.77% due to profit growth, while Transmissão Paulista (TRPL4) fell despite a 147.7% profit increase. Hapvida (HAPV3) faced a 4.23% drop, marking a session low.
Vale (VALE3) saw an uptick, contrasting with Petrobras’ (PETR4) modest day.
Market dynamics, shaped by corporate performance, economic policies, and investor sentiment, underscore the interconnectedness of global financial landscapes.