Thursday’s Morning Call: Key Insights Ahead of Market Open
In today’s financial morning call, despite a light schedule, we bring you essential updates to help you stay informed before the market opens.
It’s important to note that no significant economic events are scheduled for today, Thursday, June 20.
Firstly, a quick recap of yesterday’s market performance: the stock market closed up at 0.53%, reaching 120,261 points.
Interest rates remain steady as the Central Bank’s Monetary Policy Committee (Copom) unanimously agrees to keep the Selic rate at 10.50% per annum, announced on Wednesday.
Itaú Unibanco’s Dividend Strategy and Market Updates
Itaú Unibanco (Ticker: ITUB4) has indicated potential for another extraordinary dividend payment, as stated by Milton Maluhy Filho, the bank’s CEO.
He expressed a preference for recurrent extraordinary dividend payouts over a higher preset payout ratio.
Sabesp’s Privatization Progress
Another significant update concerns Sabesp (Ticker: SBSP3), which has obtained creditor approval for a control transfer, marking a crucial step towards its privatization.
In currency markets, the Brazilian real experienced a modest increase against the U.S. dollar.
The dollar, starting the day at R$5.441, peaked at R$5.483 before closing slightly higher at R$5.442.
The futures pointed to a small decline of 0.25% at 5,435 points. These movements reflect the market’s cautious anticipation of Brazil’s central bank’s rate decision.
Adjustments and Forecasts in the Financial Sector
In the insurance sector, Itaú BBA has revised its rating for Wiz, moving it from ‘outperform’ to ‘market perform’ with a new target price reflecting a conservative growth potential of 22%.
Despite past challenges, Wiz’s long-standing partnership with Caixa Econômica Federal is expected to continue contributing to its revenue stream into 2024.
Petrobras Settles Tax Obligations
On another front, Petrobras has agreed to settle a significant tax obligation amounting to $3.5 billion with the federal government, a move endorsed by its board under the leadership of CEO Magda Chambriard.
This settlement is part of broader efforts to address Brazil’s fiscal challenges.
Equity Markets and Investment Opportunities
The trading day concluded with the Ibovespa index rising by 630 points or 0.53%, indicating a positive streak.
A U.S. holiday subdued markets, lowering trade volumes and focusing attention on Brazil’s monetary policy.
Bradesco BBI began covering Banco Inter, giving an ‘outperform’ rating with a high target price.
More: Brazil news in English, every day from The Rio Times.
Live Market IntelligenceBrazil Morning Call — Live Board
Rio Times · Live Market Intelligence
Brazil Morning Call — Live Board
+0.66%
172,457.76
+0.66%
71,610.23
-0.28%
10,660.94
+0.34%
2,848,945
—
2,452.46
-0.02%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 172,457.76 | +0.66% | +9.73% | 171,324.31 | 172,715 | 171,132 | — |
| USD/BRL | 5.67 | +0.45% | +7.09% | 5.64 | 5.67 | 5.63 | — |
| EUR/BRL | 6.25 | +0.93% | +1.93% | 6.19 | 6.26 | 6.21 | — |
| SELIC | 13.75% | — | — | — | — | — | |
| BRENT | 96.08 | +0.27% | +52.48% | 95.82 | 97.12 | 95.07 | 22,079 |
| WTI | 88.92 | +0.20% | +51.51% | 88.74 | 89.64 | 87.80 | 181,210 |
| IRON ORE | 161.91 | — | +55.61% | 161.91 | 161.91 | 1 | |
| GOLD | 3,888 | +0.06% | -7.32% | 3,885 | 3,927 | 3,871 | 151,010 |
| SILVER | 48.65 | -2.65% | -8.34% | 49.97 | 50.73 | 48.41 | 49,657 |
| LITHIUM | 58.76 | -1.13% | -7.86% | 59.43 | 59.59 | 58.42 | 159,392 |
| SOY | 1,233 | +0.47% | +8.90% | 1,227 | 1,241 | 1,219 | 103,557 |
| CORN | 446.00 | +0.79% | +1.02% | 442.50 | 450.25 | 441.75 | 245,686 |
| WHEAT | 593.50 | +1.58% | +10.78% | 584.25 | 600.00 | 582.00 | 99,685 |
| COFFEE | 274.00 | -2.21% | -31.79% | 280.20 | 279.20 | 272.35 | 17,133 |
| SUGAR | 18.40 | +0.99% | +27.42% | 18.22 | 18.54 | 18.16 | 59,813 |
| ORANGE JUICE | 136.85 | -2.91% | -17.41% | 140.95 | 141.25 | 135.00 | 973 |
| COTTON | 79.02 | +0.44% | +25.63% | 78.67 | 79.90 | 78.63 | 18,270 |
| BEEF | 224.93 | +2.75% | +2.71% | 218.90 | 225.88 | 221.45 | 23,034 |
| CATTLE | 335.65 | -0.01% | -0.40% | 335.67 | 336.98 | 329.53 | 9,700 |
| COCOA | 5,267 | +3.97% | -4.01% | 5,066 | 5,330 | 5,169 | 27,100 |
| PETR4 | 45.30 | +1.34% | +39.43% | 44.70 | 45.44 | 44.62 | 23,431,200 |
| VALE3 | 63.50 | -0.70% | -3.30% | 63.95 | 64.24 | 63.12 | 11,175,700 |
| SUZB3 | 54.77 | -2.27% | +14.92% | 56.04 | 55.98 | 54.66 | 3,845,300 |
| KLABIN | 17.39 | -1.42% | -2.53% | 17.64 | 17.76 | 17.34 | 2,761,600 |
| SLCE3 | 18.28 | -0.44% | +24.26% | 18.36 | 18.65 | 18.01 | 2,427,000 |
| ABEV3 | 15.79 | +0.25% | +15.85% | 15.75 | 15.83 | 15.64 | 13,254,800 |
| ITUB4 | 42.27 | +1.42% | +7.66% | 41.68 | 42.56 | 41.62 | 19,532,400 |
| BBDC4 | 14.52 | +1.40% | -25.46% | 14.32 | 14.54 | 14.27 | 32,353,600 |
| BBAS3 | 15.10 | -2.45% | -32.89% | 15.48 | 15.60 | 14.98 | 85,573,900 |
| B3SA3 | 14.89 | +0.88% | +2.90% | 14.76 | 14.94 | 14.53 | 34,792,900 |
| WEGE3 | 51.31 | -0.66% | +14.48% | 51.65 | 52.05 | 50.93 | 7,741,000 |
| PRIO3 | 63.30 | +0.00% | +58.93% | 63.30 | 63.83 | 62.65 | 10,460,300 |
| RENT3 | 30.07 | +1.66% | -28.47% | 29.58 | 30.35 | 29.58 | 7,599,300 |
| AZZA3 | 15.91 | -5.86% | -45.85% | 16.90 | 17.10 | 15.72 | 6,641,600 |
| CSNA3 | 3.72 | -12.06% | -56.79% | 4.23 | 4.14 | 3.71 | 54,060,600 |
| GGBR4 | 24.73 | -0.96% | +30.78% | 24.97 | 25.09 | 24.53 | 5,458,200 |
| ENEV3 | 26.81 | -0.70% | +38.98% | 27.00 | 27.09 | 26.64 | 5,990,500 |
| LREN3 | 9.72 | +3.40% | -34.46% | 9.40 | 9.77 | 9.34 | 28,045,200 |
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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