The Ibovespa operates on a high this Friday (2), digesting employment data from U.S released in the morning.
However, around 1:25 pm, the actions of the Magazine Luiza (MGLU3) It is Via (VIIA3) retreated 4.43% and 7.17%, respectively, in the biggest drops of the day and in the opposite direction of the rest of the session.
Earlier, JP Morgan released a report downgrading recommendations for both stocks in the sector, due to a challenging outlook for the segment. MGLU3 was changed from “buy” to “neutral”, while VIIA3 was changed to “sell”, opposite “neutral” previously.
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On the positive side of the Ibovespa, stocks linked to metals were bullish highlights. OK (VOUCH3) rose 4.34%, CSN Mineração (CMIN3) +5.59%, CSN (CSNA3) +5.48%, Gerdau (GGBR4) +4.49% and Usiminas (USIM5) +4.19%.
The sector’s performance follows the iron ore traded on the Chinese futures market, which jumped nearly 3% in the day’s trading session. In addition hong kong stock market suffered a 4% drop.
The shares of Cosan (CSAN3) also soared 6.4% in the trading session. The movement takes place after BTG Pactual reiterate the recommendation to buy the shares, assessing that the stock is “close to a turning point”.
Already the papers of CVC (CVCB3) advanced 4.13%, at R$ 4.04, after spending more than an hour in the auction session. The move follows the company’s announcement that it is conducting talks with “potential strategic investors” to carry out a capital increase.
Source: Moneytimes
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