Raízen (Raiz4) is up 25%, while Azzas 2154 (Azza3) retreats almost 12%; See the highlights of Ibovespa in the week

The Ibovespa (Ibov) He interrupted the sequence of gains in the week with increasing risk aversion with the United States fiscal scenario and changes in taxation of financial operations in Brazil.

The main index of the Brazilian scholarship accumulated drop of 0.98% in the last five trading sessions and He closed the session of Friday (23) at the level of 137 thousand points, after a week of records. Last Tuesday (20), Ibovespa reached 140 thousand points for the first time in history.

The dollar in sight (USBRL) ended the R $ 5.64 and retreated 0.44% against Real the week.

In the domestic scenario, tax returned to the center of attention. Last Wednesday (21), President Luiz Inacio Lula da Silva signed a Provisional Measure (MP) on the electricity sector establishing the so-called “tariff justice”, expanding the free electricity bill to millions of families. The measure is part of the government’s announcement package to try to improve Lula’s popularity, keeping an eye on the 2026 presidential elections.

But the mood of the market ‘soured’ after the Ministry of Finance confirms the increase in tax rates on financial operations (IOF) for corporate credit, private pension (VGBL, more specifically) and exchange on the night of last Thursday (22). The change overshadowed the cut of R $ 31, 3 billion in pubic spending in the 2025 budget, announced in the bimonthly report of primary revenues and expenses.

Among the data, the Central Bank’s economic activity index (IBC-BR) was above expected. The preview of gross domestic product (GDP) rose 0.8% in March, after a 0.5% increase in February, and accumulates 4.2% advance in 12 months.

Abroad, the United States fiscal scenario injected caution into global markets. The relegation of the US credit note by Moody’s last Friday (16) called a warning about the trajectory of US indebtedness.

During the week, the Chamber of Representatives It approved the bill that a bill that provides for tax cuts and increased spending in some areas considered strategic by the government. The proposal will add about US $ 3.8 trillion to debt of US $ 36.2 trillion from the federal government In the next decade, according to the Independent Congress Budget Office.

The article now goes to the US Senate and the expectation is that the vote will happen until June.

Investors also reacted to new tariff threats from President Donald Trump on Friday (23). The White House head announced the imposition of a 50% tariff on imports from European Union products in the country, which should come into force on June 1.

Trump also said that Apple (AAPL) You will have to pay a 25% fee to import products in the United States if they are not manufactured in the country.

Up and down from Ibovespa

Ibovespa’s positive tip was led by Raízen (Raiz4), the joint venture of renewable energy between the Cosan (CSAN3) and Shell.

The papers have risen with the expectation of the company’s breakdown with the sale of assets. Last Wednesday (21), investors responded to the sales agreement of solar generation plant generation projects for the homeland investments.

According to information from Estadão, the company also evaluates the sale of assets to Argentina, who already have stakeholders-Trafigura (multinational commodities based in Singapore and unit in Montevideo) and Glencore (Anglo-Swiss that operates in mining and commodities). Negotiations are being conducted by BTG Pactual.

The actions of JBS (JBSS3) They accumulated more than 7% in the week with the approval of the company’s double listing by shareholders at an extraordinary general meeting. Papers are expected to begin to be negotiated on the New York Stock Exchange (NYSE) on June 12.

Check out the highest highs of Ibovespa from 19 to 23 May:

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The negative tip was led by Azzas 2154 (Azza3), With the advancement of future interest in the treadmill of the United States Treasury titles, Treasurys, keeping an eye on the trajectory of US public debt.

In general, cyclical actions are pressured by the advancement of interest, as companies’ performance are directly related to economic activity. In higher interest scenarios, the level of consumption decreases – negatively impacting retail and construction sectors, mainly.

Highlighted, Cogna (Cogn3) accumulated low of almost 8%, pressured by the new March regulatory for higher education courses, released on Monday (19) by Ministry of Education (MEC), with new rules for face -to -face, semi -presential modalities (hybrid) and the distance (EAD).

Now, Law, Medicine, Dentistry, Nursing and Psychology courses can only be offered exclusively in the face -to -face modality. Other courses in the area of health and degree Nor can it be offered at a distance, but educational institutions may adopt the semi -presential format.

In the evaluation of JP Morganthe new measures came more restrictive than expected. Already the BTG Pactual estimates that the impact of new rules should be negative for companies in the sector, especially for companies with high exposure to EAD – that is, for 67% of Players of the sector.

See the biggest falls of Ibovespa in the week: