The Ibovespa declined by 0.18% to close at 124,511 on Thursday, reflecting global sentiment influenced by the latest US inflation data indicating persistent price increases. The core PCE price index accelerated from the previous quarter, surpassing expectations at 3.7%, and dampening any dovish expectations that may have emerged from slower GDP growth. The Fed's expected hawkish stance weighed on credit-sensitive stocks, with Hypermarcas leading the losses at the bottom of the index with a decline of 5.8%, followed by Gol down 4.8%, Magazine Luiza down 3.5%, and Casas Bahia losing 2.64%. Additionally, in corporate earnings, mining giant Vale's first-quarter revenues disappointed investors, resulting in a 2.33% drop in its shares. On the other hand, the state-owned oil giant Petrobras gained 2.21% after news of the approval of the payment of 50% of extraordinary dividends for the fourth quarter.
The main stock market index in Brazil (IBOVESPA) decreased 9540 or 7.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Brazil. Historically, the Brazil Stock Market (BOVESPA) reached an all time high of 134391.67 in December of 2023. Brazil Stock Market (BOVESPA) - data, forecasts, historical chart - was last updated on April 26 of 2024.
The main stock market index in Brazil (IBOVESPA) decreased 9540 or 7.11% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Brazil. The Brazil Stock Market (BOVESPA) is expected to trade at 124852.21 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 115577.32 in 12 months time.