Ibovespa (IBOV) maintains a good phase and has 4th trading session followed by an increase; What animates the market?

Ibovespa engages in the fourth trading session followed by an increase (Image: Patricia Monteiro/Bloomberg)

O Ibovespa (IBOV) ended this Wednesday (29) at a high of 0.6%, at 101,792.52 points. This was the fourth trading session followed by an increase in the index.

Local investors are waiting for the definition of the new tax framework which will replace the spending cap.

The government defines the final details of the public debt control rules before the presentation to the market. The Minister of Finance, Fernando Haddadhas a “conclusive meeting” with the president Luiz Inacio Lula da Silva and the Minister of the Civil House, Rui Costa. According to interlocutors, the expectation is that Lula will hit the hammer on the new fiscal anchor today.

Lula asked for “special treatment” for the areas of education and health, but with spending still within the rules. The expectation is that there will be recompositions in these two areas, which were compressed by the current spending ceiling.

The proposal should also define a transition period so that these two areas do not grow more than revenues and are subject to the limits of the framework.

Lula’s request contradicts a speech by the senator Randolph Rodriguesleader of the government in Congress, who said last week that the new rule would not make exceptions for spending in specific areas such as health and education.

According to Ajax Asset, investors are preparing for a “less negative” text – which would stabilize the depreciation of local assets.

Abroad, the indices of Wall Street advanced, which contributed to the Ibovespa ending the day in a positive field. The markets are starting to evaluate more the possibility of the Federal Reserve put an end to the cycle of high interest rates. In addition, risks with the banking sector are gradually diluted.

ups and downs

Last night’s results reverberated in the market. Falling almost 6%, shares of Qualicorp (WHICH3) led the Ibovespa declines after the company recorded a loss of BRL 79.9 million in the fourth quarter of 2022, reversing the profit for the same period of 2021.

already the Renner stores (LREN3) retreated 4.87% today. The Bank of America (BofA) reduced thesis estimates, leading to a cut in the target price to BRL 22, with a “neutral” recommendation.

On the positive side, the hapvida (HAPV3) continued the movement of the previous session. The stock rose 4.94% after jumping 18%.

Saint Martin (SMTO3), root (ROOT4) It is Cosan (CSAN3) were also highlighted. This Wednesday, the National Tax Policy Council (Confaz) published the text of an agreement reached at a meeting the day before that decided on the single charge of ICMS on operations with gasoline and anhydrous ethanol fuel, in the amount of R$ 1.45 per liter.

The shares of Petrobras (PETR4) closed up 1.31%. The state-owned company’s board of directors concluded that the review of investment and disinvestment processes must be carried out based on the company’s strategic plan.

OK (VOUCH3) also advanced, closing with an appreciation of 1.44%.

Source: Moneytimes

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