Ibovespa Rises on Corporate Earnings
The Ibovespa rose around 0.5% to hover near 173,000 as investors assessed corporate earnings and the minutes of the BCB’s latest meeting. Embraer (+5%) reported Q3 revenue of R$12.1 billion, beating estimates and setting a third-quarter record, although adjusted profit fell 15.6% year-on-year. Itaúsa (+1%) posted a 25% annual increase in net profit. Brava Energia (-2.5%) beat EBITDA estimates but it still posted a quarterly decline, Bradesco BBI maintained its buy rating. Magazine Luiza surged 10% after reporting results in line with expectations. Petrobras (-1%) is due to report later today amid falling oil prices. Banco do Brasil (+1%) reports tomorrow, followed by B3 (+1.5%) and Rede D’Or (+0.5%) on Thursday. Meanwhile, the Copom minutes maintained the previous statement’s hawkish tone, reiterating that unanchored inflation expectations require tighter monetary conditions for longer.
The Ibovespa rose around 0.5% to hover near 173,000 as investors assessed corporate earnings and the minutes of the BCB’s latest meeting. Embraer (+5%) reported Q3 revenue of R$12.1 billion, beating estimates and setting a third-quarter record, although adjusted profit fell 15.6% year-on-year. Itaúsa (+1%) posted a 25% annual increase in net profit. Brava Energia (-2.5%) beat EBITDA estimates but it still posted a quarterly decline, Bradesco BBI maintained its buy rating.
Magazine Luiza surged 10% after reporting results in line with expectations. Petrobras (-1%) is due to report later today amid falling oil prices. Banco do Brasil (+1%) reports tomorrow, followed by B3 (+1.5%) and Rede D’Or (+0.5%) on Thursday. Meanwhile, the Copom minutes maintained the previous statement’s hawkish tone, reiterating that unanchored inflation expectations require tighter monetary conditions for longer.