Ibovespa Closes Higher on Fiscal Adjusment Prospects
The Ibovespa rose 0.4% to close at 172,060 on Wednesday after markets received moderately positively the first signals about the fiscal package President Lula is preparing for 2027. Planning Minister Moretti said the bill’s fiscal measures will have an impact of R$50 billion to R$60 billion in 2027, increasing in subsequent years, and will give the government more instruments to improve primary results. Moretti also said the proposal would allow additional spending freezes if necessary and that the government will “certainly” post a primary surplus in 2027. Major banks were mixed, Itaú rose 1.3%, while Banco do Brasil fell 1.2% ahead of its earnings. Other financials advanced, with B3 up 2.2% and Itaúsa 1.5%. Utilities also rose, with Axia adding 0.6%. Petrobras fell 3.1% after its Q3 report, as net income came in below market expectations. Vivo jumped 5.4% as it began Q4 with higher sales. Rede D’Or gained 2.7% ahead of its release tomorrow.
The Ibovespa rose 0.4% to close at 172,060 on Wednesday after markets received moderately positively the first signals about the fiscal package President Lula is preparing for 2027. Planning Minister Moretti said the bill’s fiscal measures will have an impact of R$50 billion to R$60 billion in 2027, increasing in subsequent years, and will give the government more instruments to improve primary results. Moretti also said the proposal would allow additional spending freezes if necessary and that the government will “certainly” post a primary surplus in 2027. Major banks were mixed, Itaú rose 1.3%, while Banco do Brasil fell 1.2% ahead of its earnings.
Other financials advanced, with B3 up 2.2% and Itaúsa 1.5%. Utilities also rose, with Axia adding 0.6%. Petrobras fell 3.1% after its Q3 report, as net income came in below market expectations. Vivo jumped 5.4% as it began Q4 with higher sales.
Rede D’Or gained 2.7% ahead of its release tomorrow.