(MENAFN – The Rio Times) Brazil’s main stock index, Ibovespa, dropped slightly by 0.11% on Monday, October 21, 2024, closing at 130,361.56 points. This is the third day of losses for the index. The US dollar fell to R$ 5.69. Hypera was the most traded stock, initially plunging over 15% after cutting its 2024 financial forecasts but later recovering to close up by 1.91% due to merger news with EMS. Vale’s stock dropped by 0.36% despite rising iron ore prices, and Petrobras shares fell by 1.57%, even as oil prices increased.
Embraer stood out with a 4.17% rise as it reported a 33% increase in Q3 deliveries. Central Bank President Roberto Campos Neto stressed the need for fiscal measures to reduce interest rates sustainably, citing challenges in managing inflation without proper support. The Focus Report showed rising inflation expectations for 2024, with the Consumer Price Index (IPCA) now projected at 4.50%.
In the US, stock markets also declined, with the S&P 500 down 0.18%, the Dow Jones down 0.80%, and the Nasdaq up slightly by 0.27%. Investors are cautious due to geopolitical tensions and upcoming economic reports. The interplay of fiscal policies, monetary decisions, and corporate performance will likely continue to shape market trends in Brazil and beyond.
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