INSUBCONTINENT EXCLUSIVE:
The Brazilian stock market experienced a notable upturn, with the Ibovespa index climbing nearly 1% to 124,698.04 points
This positive shift occurred as the Chamber of Deputies advanced discussions on a crucial fiscal package.Meanwhile, the US dollar reached a
new record high against the Brazilian real, closing at R$6.0961
announced plans to vote on one of the fiscal projects immediately
He expects two additional proposals to be reviewed by the plenary on the following day.The Central Bank of Brazil intervened in the foreign
injected $12.76 billion into the market since December 12th through various auctions
Investors also digested the minutes from the latest Monetary Policy Committee meeting.Brazilian Stock Market Surges Amid Fiscal Package
Progress and Record Dollar
(Photo Internet reproduction)The document revealed that the recent dollar surge and fiscal package influenced the decision to raise the
benchmark interest rate to 12.25% per annum
The committee signaled two more rate hikes of similar magnitude in early 2025.Market HighlightsAmong individual stocks, Automob shares led
the gains on their second day of trading
Vale halted its five-day losing streak, despite weak iron ore prices in China.Petrobras closed higher, contrasting with declining oil prices
Hapvida experienced a significant drop following proposed changes to health plan adjustments by the National Supplementary Health Agency.In
The market largely anticipates a 25 basis point rate cut.US retail sales data exceeded expectations, showing a 0.7% increase in November
However, the Dow Jones index fell for the ninth consecutive day, marking its longest losing streak since 1978.This market activity reflects
fiscal package progresses and interest rate decisions loom, investors remain vigilant in navigating these dynamic market conditions.
