INSUBCONTINENT EXCLUSIVE:
On October 24, the Ibovespa index experienced a notable recovery, climbing back to the significant mark of 130,000 points.This surge
occurred as investors adjusted their expectations regarding fiscal policies following statements made by Finance Minister Fernando Haddad
and Central Bank President Roberto Campos Neto.The Brazilian stock market saw a 0.65% increase, closing at 130,066.95 points
dollar traded at R$ 5.6629 ($1.01), reflecting a decline of 0.69%.A key highlight in the domestic economic landscape was the release of the
Extended Consumer Price Index (IPCA-15), which serves as a preliminary measure of inflation.In October, this index rose by 0.54%, a
Economists surveyed by Reuters had predicted a smaller rise of 0.50%.Ibovespa Surges to 130,000 Points Amid Fiscal Optimism
(Photo Internet reproduction)Over the past year, the IPCA-15 increased from 4.12% to 4.47%, marking its highest level since February and
nearing the upper limit of the inflation target set at 4.50%.Market AnalysisAnalysts from Italy noted that this reading indicated a
worse-than-expected inflation outlook compared to previous assessments
Investor sentiment was further influenced by a joint press conference held by Haddad and Campos Neto.During this event, Haddad emphasized
current fiscal guidelines, suggesting that no major reforms were necessary but that credibility must be demonstrated over time.Campos Neto
market concerns regarding public finances.He also remarked on the potential overvaluation of certain prices in the Brazilian market
Among the stocks traded on the Ibovespa, Hypera (HYPE3) attracted attention for rejecting a merger proposal from EMS for the fourth
consecutive session.The company deemed the unsolicited offer as significantly undervaluing its worth and confirmed that no discussions had
taken place regarding the potential merger.However, speculation suggests that EMS may present a revised offer soon, leading HYPE3 shares to
recalibrated their expectations based on fiscal discussions
Companies like Cogna (COGN3) and Lojas Renner (LREN3) led these gains.Vale (VALE3), another heavyweight in the index, saw an uptick due to
rising iron ore prices and anticipation surrounding its third-quarter earnings report set for release later that day
markets displayed mixed results
The Dow Jones index fell for a fourth consecutive session
better-than-expected third-quarter results
Tesla reported revenues of $25.18 billion for July through September, slightly below expectations of $25.37 billion.The adjusted earnings
per share reached $0.72, surpassing estimates of $0.58
Recent economic data indicated robust activity within U.S
from 54.0 in September, signaling expansion in private sector activity.Additionally, initial jobless claims fell by 15,000 to 227,000 for
the week ending October 19
This decline contrasts with predictions of an increase to 242,000 claims.As markets prepare for upcoming earnings reports and economic data
releases, volatility is expected to persist in stock trading
This comes alongside the U.S
elections and a Federal Reserve meeting in early November.
