Ibovespa reacts negatively to speculation about Haddad as Brazil’s new Finance Minister
On the first day of the new trading hours, the Ibovespa closed with a loss of 2.38%, at 115,342.40 points.
The market echoes the news about the name of the Ministry of Finance in the next Lula da Silva government.
This local news was stronger than the advance of the stock markets in New York.
There, daylight saving time is over, and to keep up, the Brazilian trading session will have an extra hour, closing at 6:00 pm (Brasília time) as of today.
After opening at a high, Ibovespa turned negativ this Monday (Nov. 7) with the news that Fernando Haddad is quoted as the Minister of Finance.
According to observers, the market does not favor a politician in the position.
“The ideal would be someone with a more technical profile. Besides, many believe Haddad does not communicate well with Congress,” says an expert.
To make matters worse, the name that the market wanted, Henrique Meirelles, denied that he was a candidate for a ministerial position.
In an interview with Jovem Pan TV, Meirelles said he had not received any invitation.
In the first three trading sessions after the result of the presidential dispute, the balance of foreign capital in the Brazilian secondary stock market was positive at R$ 2.9 billion (US$580 million), according to data on the B3 website.
However, there was a general decline on Monday, which analysts believe is also a correction to the gains recorded last week.
Of the 92 stocks listed on Ibovespa, only seven closed with a positive trend.
The biggest gain was from Santander, up 5.88%, followed by BB Seguridade and Suzano, which rose 1.04% and 0.92%.
On Wall Street, elections also took their toll.
Investors focus on the mid-term elections that will take place today (Nov. 8) and will determine the control of Congress.
The Republicans are the favorites, which in theory, benefits stocks.
The Dow Jones registered the highest rise of the day, with an advance of 1.31%, at 32,829.18 points.
The S&P 500 gained 0.97%, at 3,807.13 points, and the Nasdaq rose 0.85%, at 10,564.52 points.
With the scenario of risk aversion in the São Paulo stock exchange, the commercial dollar rose sharply against the real today, with an advance of 2.19%, trading at R$5.1729.
Key Facts
— Deep Dive
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+1.00%
177,418.78
+1.00%
65,048.39
-0.67%
11,315.26
-1.14%
3,033,848
+1.83%
2,425.08
-1.33%
59,928.30
-0.80%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 177,418.78 | +1.00% | +21.85% | 175,664.62 | 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
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