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    Ibovespa: YDUQ3 and CASH3 melt more than 9% after results; meatpackers gain momentum with dollar

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    O Méliuz (CASH3), which released its results last night, plummeted 9.8% (Image: Facebook/Méliuz)

    After a session of ups and downs, the Ibovespa (IBOV) managed to close up 0.43% this Tuesday (16), remaining at the level of 113 thousand points.

    The trading session was marked by the battery of results from the previous day. Companies that reported their numbers for the second quarter of the year were among the highlights of the main index of the B3 (B3SA3).

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    yduqs (YUDQ3) led the Ibovespa declines. The education company’s shares ended the day melting 11.76%, at R$ 14.03 each. The company showed a reversal of profit, concluding the last three months ended in June with a net loss of R$ 63.3 million.

    O Méliuz (CASH3), another company that released its results last night, plunged 9.8%. The financial products and services company posted a loss of R$ 28.2 million, motivated by the fact that costs and expenses have increased due to the development of its products.

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    D’Or Network (RDOR3) registered a devaluation of 3.97%, with investors reacting to the 25% drop in profit.

    O IRB (IRBR3) ended up 3.85%, even after reporting a loss of R$ 373 million.

    The meatpackers’ papers were the positive highlight of the session. BRF (BRFS3), JBS (JBSS3) and Marfrig (MRFG3) rose 6.53%, 4.89% and 4.78%, respectively, due to the high dollar.

    The US currency has been rising due to reduced risk aversion and the risk of global recession, says Marcus Labarthe, founding partner of GT Capital Investimentos.

    “We had good and better than expected numbers related to the US economy. So the market has come to believe that the downturn is not going to come so fast,” he comments.

    The dollar’s rise is also due to the recent fall, with the currency reaching almost R$5.

    “It is normal to have this adjustment in the midst of the turbulent scenario we are experiencing”, says Labarthe.

    To complete, Labarthe explains that the beginning of the elections in Brazil brings more volatility to the stock market, causing investors to prefer safer assets in dollars.

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    Source: Moneytimes

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