On Monday, the Ibovespa Index, a key indicator of Brazil’s stock market, increased, despite U.S. markets being closed for a holiday.
The index finished at 131,520.91 points, a 0.41% gain. BB Investimentos provided a weekly analysis.
It showed a mixed trend for Ibovespa, with some indicators suggesting a continued upward movement.
Looking ahead, the analysis hints at a positive trend. This is expected to become clearer with more trading later in January.
The Federal Reserve’s decisions, based on strong job market data, might also influence the market.
The Ibovespa has resistance levels at 134,200 points and then possibly 137,800 and 142,800 points. Support levels are at 128,200, 125,000, and 123,000 points.
In company news, Grupo Pão de Açúcar’s (GPA – PCAR3) stock went up for a second day. It increased over 20%, leading to a trading halt.
It ended the day with a 22.55% gain, reaching R$ 5. On the other hand, Gol Linhas Aéreas (GOLL4) faced a 6.05% drop.
This followed news about a possible U.S. bankruptcy filing. Azul Linhas Aéreas (AZUL4) also saw a 2.36% decline.
Mining and steel sectors reacted to lower iron ore prices. Vale (VALE3) had a slight drop of 0.20%.
Petrobras (PETR4), however, increased by 1.07% despite lower oil prices. This helped balance Vale’s weak performance.