INSUBCONTINENT EXCLUSIVE:
The Brazilian stock market experienced a downturn on Tuesday, September 10, 2024, reversing gains from the previous session.The Ibovespa,
showed signs of deflation for the first time since June 2023
The Brazilian Institute of Geography and Statistics (IBGE) reported that the Broad Consumer Price Index (IPCA) fell by 0.02% in August.This
figure was lower than market expectations of a 0.02% increase
The 12-month inflation rate decelerated from 4.50% in July to 4.24% in August.Despite this slowdown, inflation remains above the central
Consequently, analysts still predict an increase in the benchmark interest rate at the upcoming Monetary Policy Committee meeting.Brazilian
Stock Market Dips as Oil Prices Plummet and US Inflation Data Looms
(Photo Internet reproduction)The US dollar strengthened against the Brazilian real, closing at R$5.6553, up 1.32%
Oil prices plummeted, with Brent crude futures for November delivery falling 3.69% to $69.19 per barrel
This marks the lowest level since December 2021.Market OverviewAirline company Azul (AZUL4) led gains on the Ibovespa
The company projected revenues of around R$20 billion for the year, a 7% increase from the previous year.JP Morgan maintained a neutral
recommendation for Azul shares but reduced the target price from R$19 to R$8.50.Paper and pulp companies Klabin (KLBN11) and Suzano (SUZB3)
(ASAI3) extending its decline from the previous session
US stock markets showed mixed performance as investors awaited the release of August inflation data.The Consumer Price Index (CPI) is
expected to remain at 0.2% month-on-month, with a 2.6% annual increase
The probability of a 50 basis point cut is estimated at 33%.As global markets navigate these economic uncertainties, investors remain
cautious, balancing domestic indicators with international trends.
