November 28, 2021

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Ibovespa is trading higher and fluctuating at 105 thousand points;  DI rates drop even as IPCA-15 advances in November

Ibovespa is trading higher and fluctuating at 105 thousand points; DI rates drop even as IPCA-15 advances in November

B3 Bovespa São Paulo Stock Exchange (Germano Lüders / InfoMoney)

Sao Paulo – After two consecutive days of earnings, Ibovespa It continues to climb and tests 105,000 points in the works this Thursday (25). The session promises to be low turnover because it’s Thanksgiving in the United States. Both US stock exchanges and the country’s bond market were closed for the holiday. Without their main reference abroad, investors must relay local news, especially inflation expectations.

The pre-market opening coincided with the release of a preview of the Broad Consumer Price Index (IPCA-15), which rose 1.17% in November month-on-month, while economists had expected a 1.1% rise. In the 12-month period, the index registered a positive variance of 10.73%. Although it had the largest monthly difference in nearly 20 years, the result was practically in line with market expectations.

“Food and services have slowed, which is important, as the pressure was expected from this segment and it wasn’t that strong,” says Gustavo Cruz, strategist at RB Investimentos.

Jansen Costa, co-founder of Fatorial Investimentos, highlighted the transfer’s involvement in index variance. “With the gasoline accumulation increasing by 48% in two months, the transfer result was severely affected and presented a variance of 2.89%. This weight shows that if oil does not decline and the dollar does not surrender, we will have a hard time controlling inflation that is growing more and more,” he says.

It should be noted that the economists consulted weekly by the Central Bank, in the Focus report, already expect double-digit inflation at the end of 2021. Yesterday, the head of the Central Bank, Roberto Campos Neto, also Talk about unanchoring Inflation forecasts for 2022, which have gained traction in recent weeks.

“We think it is very important to follow the inflation target, to understand the limits of an almost unprecedented crisis, but we understand that the spread through price chains has been much more intense than we expected,” he said during a Bank of America event. .

Investors are also watching the performance of Petrobras’ roles (PETR4;PETR4). The oil company announced that it will invest 68 billion US dollars between 2022 and 2026. The new business plan is 23% higher than the previous plan (2021-2025). In the day’s first trade, the company’s shares rose more than 2%.

In recent days, the actions of the oil company have helped boost Ibovespa, as have Vale shares (VALE3), which in turn was supported by the rise in crude prices in the international market. The exchange comes after two consecutive days of rally, buoyed by this appreciation.

Read more: Iron ore hits three-week high amid upbeat Chinese demand

Investors also remain alert to political and financial risks. With the vote on the PEC dos Precatórios in the Senate postponed to next Wednesday (30), attention is now focused on the vote on the interim measure of Oxillo of Brazil, in the plenary session of the Chamber of Deputies.

At 10:13 am (Brazilian time), the Ibovespa index was trading up 0.57% to 105,107 points. Ibovespa’s December 2021 futures are up 0.6% at 105,510 points.

Read more: Analysts explain how retailers should react to Black Friday

The trade dollar fell 0.23% to 5.581 Brazilian reais on purchase and 5.582 Brazilian reais for sale; Dollar futures due in December 2021 fell 0.4% to R$5,590.

In the futures market, DI for January 2023 fell ten basis points to 12.06%; January 2025 DI drops four basis points to 11.80%; The DI for January 2027 fell one basis point to 11.72%.

“There was no significant impact on the interest rate curve, which opened lower, and the tone still reverberates more doves From the President of the Central Bank during a speech yesterday and also for a better perspective on the progress of the PEC dos Precatórios negotiations,” Alexandru Nishimura, Economist, Partner at BRA.

New York futures indexes continue to operate, but without their own, due to the holiday. Dow futures advanced 0.18%; S&P 500 futures rose 0.18% and Nasdaq futures advanced 0.2%.

Investors tend to be more guided by the European market, where stock exchanges are operating higher. A new agreement has been announced to form a coalition government in Germany between the Social Democratic Party, the Green Party and the Liberal Democratic Party. So former German Finance Minister Olaf Scholz is expected to become the country’s new chancellor when Angela Merkel steps down from the CDU in early December.

Investors also continue to monitor the Covid crisis in Europe, with new cases emerging prompting countries to implement measures to restrict movement. And Italy announced, on Wednesday, that it would implement similar measures. The Stoxx 600 advanced 0.24%.

section number goodsOil prices fluctuate near stability. A barrel of Brent crude rose 0.07% slightly to $82.30, and West Texas Intermediate crude fell 0.13% to $78.29.

Asian stock exchanges reported mixed results Thursday, as investors responded to the Bank of Korea’s decision to raise interest rates by 0.25 percentage points, to 1%. This step was already expected by analysts consulted by the international news agency Reuters because of signs of recovery in the country’s economy.

On Wednesday, the Reserve Bank of New Zealand made a similar decision. The Federal Reserve is also expected to raise interest rates in the US, based on the minutes of the institution’s November meeting released on Wednesday, at which members raised concerns about inflation. Thus, the Bank of Korea’s move may be in sync with what is expected from the Fed.

corporate radar

This Thursday (25) company news highlights Petrobras’ new strategic plan (PETR3;PETR4) for the period 2022-2026. The state-owned company will invest 68 billion US dollars, up 23%. Details of the plan will be announced via conference call starting at 10:30 AM.

In addition, the Inter Bank (binary 11(updated on corporate restructuring, CSN)CSNA3(Informed by Metalgráfica Iguaçu)MTIG4) CADE rejected Hapvida’s acquisition of Plamed portfolio (HAPV3). Check out the highlights:

Petrobras will invest $68 billion between 2022 and 2026, of which 84% will be directed to exploration and production (E&P), according to the company’s new strategic plan, released yesterday (24). The new business plan is 23% higher than the previous plan (2021-2025).

The measure of total debt found in the last strategic plan has been excluded, due to the expected achievement of the $60 billion target in Q321. The plan maintains active portfolio management, with expected liquidations between $15 billion and $25 billion.

In addition, Petrobras (PETR4; PETR3) has agreed to review the shareholder remuneration policy, which will be implemented on a quarterly basis.

The oil company has set a minimum annual wage of US$4 billion for fiscal years in which the average price of Brent exceeds US$40 per barrel, which can be distributed regardless of their level of indebtedness.

Inter Platform has informed that Inter Platform yesterday (24) obtained a registration statement approval from the US Securities and Exchange Commission (SEC).

According to the company, registration is another important milestone that aims to implement corporate reorganization on the platform.

On Wednesday (24) CSN (CSNA3) signed an agreement to include all shares issued by Metalgráfica Iguaçu (MTIG4).

The process involves taking on 80 million R$ of debt from the steelmaker and paying in shares.

Eletrobras (ELET3; ELET6) has announced that Eletronorte has entered into an agreement to renegotiate CEA debt amounting to R$306.1 million.

The Administrative Council Court of Economic Law (KID) refused to approve Hapveda’s acquisition of the Plamed portfolio. The operation was announced in December 2019, in the amount of R$57.5 million.

Plamed’s portfolio is concentrated in the Aracaju (SE) region, and currently has about 26,000 beneficiaries of health plans. Hapvida, along with its advisors, continues to evaluate alternatives for next steps in light of the aforementioned decision and will keep the market informed of any developments in this matter.

Copel (CPLE6) disclosed that UEGA, the company’s indirect subsidiary, and Petrobras (PETR4) have signed an amendment to extend the contract for the purchase and sale of natural gas for thermal power generation in the interruption mode.

The actual term now extends until December 31, 2022. The contract provides for the supply of 2,150,000 cubic meters of fuel per day, without obligation to draw.

2W Energy

2W Energia has agreed to issue a two-series simple bond in the amount of R$400 million.

Series I bonds mature on November 24, 2025 and Series II bonds mature on November 24, 2029.

Banestes (3 . bee)

Banestes (BEES3) stated that there is no intention or any study to privatize the bank.

energy regeneration (new 3)

Renova Energia (RNEW3) has reported that the judge has agreed to sell a stake in Enerbrás to V2i for R$265.8 million.

Highways (ECOR3)

Ecorodovias (ECOR3) has signed a final amendment with the government of São Paulo and Artesp to extend the concession until 2033.

Sarava (SLED4) has asked to suspend its creditors’ meeting yesterday afternoon in an attempt to buy time for new negotiations, and to avoid a lack of understanding leading to the company’s bankruptcy decree, according to a source who heard Valor.

A new meeting has been scheduled for December 9.

Enjoei (ENJU3) announced that, yesterday (24), Aline de Lucca and Eric Acher submitted a request to resign from their board member positions.

Instead, the Board of Directors appointed Renato Vitosa Ricci and Gregory Lewis Ryder as independent members of the Board of Directors for a term until the company’s next general shareholder meeting.

Funds managed by JP Morgan reduced their participation in Locaweb (LWSA3) from 5.22% to 3.64% of ON’s total shares, by selling 9,133,634 shares.

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