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On November 11, 2024, the B3 Brazilian stock market experienced a modest increase. The IBOVESPA index finished the day at 127,904.68 points, reflecting a rise of 0.0586%, or 74.88 points, from the previous close.
Throughout the trading session, the index showed fluctuations. It reached a low of 127,306.45 points and peaked at 128,095.17 points.
This range indicates a market that remained active but cautious amid various economic signals. Trading volume was significant, with around 8,905,096 shares exchanged during the day.
This level of activity suggests that investors were engaged, despite the slight upward movement of the index. The previous day’s closing figure stood at 127,829.80 points.
The market’s performance was influenced by several factors. Investors are closely watching upcoming earnings reports from major companies like Grupo Mateus and Itaúsa.
These announcements often shape market sentiment and influence stock prices. Vale (VALE3), a major player in the mining sector, significantly impacted the Ibovespa‘s performance.
Market Volatility
The company’s shares fell by 2.89%, driven down by declining iron ore prices. This decline reflects broader market sentiments influenced by recent economic forecasts.
The Focus Report released today further dampened market optimism. It revised inflation expectations for next year from 4.03% to 4.56%.
Additionally, projections for the dollar rose slightly from R$ 5.43 to R$ 5.48 for 2025. Meanwhile, the Selic rate is expected to remain stable at 11.75% for this year and drop marginally to 11.50% in 2025.
The downturn in iron ore prices stemmed from disappointment over China‘s fiscal stimulus package, which failed to meet expectations.
Consequently, mining companies like Usiminas (USIM5), CSN Mineração (CMIN3), and CSN (CSNA3) experienced declines of 2.72%, 1.37%, and 3.83%, respectively.
Retail companies also faced challenges due to rising future interest rates. Shares of Natura (NTCO3), Lojas Renner (LREN3), and Magazine Luiza (MGLU3) dropped by 1.45%, 1.18%, and 1.56%.
Despite these setbacks, some stocks performed well during the session. Embraer (EMBR3) saw a notable increase of 3.57% after Sweden selected its C-390 Millennium as its next military transport aircraft.
Additionally, education companies Cogna (COGN3) and Yduqs (YDUQ3) surged by 8.82% and 5.18%, respectively, following positive earnings reports.