(MENAFN– The Rio Times) On Friday, October 18, 2024, the Brazilian stock market dipped slightly due to global economic factors.
The Ibovespa, Brazil’s main index, closed at 130,499.26 points, down 0.22% for the day but up 0.40% for the week.
Commodity prices, especially oil and iron ore, fell, affecting major companies like Petrobras and Vale, whose stocks dropped by 0.27% and 0.35%, respectively.
The retail sector struggled with rising interest rates, leading to stock declines for Lojas Renner and Magazine Luiza, which fell by 1.66% and 1.78%.
Conversely, Assai?’s stock rose by 0.42% after it reduced its store-opening plans. Banking stocks like Bradesco and Itau? Unibanco helped stabilize the market with increases of 0.79% and 0.48%.
Marfrig’s stock soared by 5.97% after positive analyst reviews.
In summary, Marfrig topped the gains on October 18, followed by Minerva and BRF, while cyclical stocks like Vivara and Carrefour struggled.
The US dollar strengthened against the Brazilian real, closing at R$5.6989, up 0.69% for the day. This reflects ongoing economic uncertainties.
The Brazilian government introduced measures to help businesses impacted by recent power outages in São Paulo, offering a R$150 million guarantee to create a R$1 billion credit line.
Internationally, China’s mixed economic data raised concerns, affecting commodity prices and related Brazilian stocks. Meanwhile, US markets closed positively, with record highs in the S&P 500 and Dow Jones due to cautious commentary from the Federal Reserve.
As October progresses, the Brazilian market is down 1.00% for the month, with investors awaiting important economic indicators like the IPCA-15 inflation data on October 24.
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