Corporate results and interest relief help Ibovespa recover | finance

You corporate results well rated by financial agents and one day of greatest relief in fixed income markets make room for a recovery of the Ibovespa on Wednesday’s trading session. Despite the most positive day in local markets, agents must remain alert to the possibility of voting for the PEC of Precatório in the plenary of the Chamber, while awaiting the Central Bank (BC) monetary policy decision In the end of the day.

In this context, the Ibovespa traded higher throughout the entire initial part of the trading session and, around 2:50 pm, rose 1.18%, to 107,673 points. At the day’s high, the index scored 108,224 points. The financial turnover traded on B3 today was almost R$13 billion. The commercial dollar, in turn, hovered around stability, around R$ 5.57.

After an expressive drop in the Ibovespa in Tuesday’s session, which took the index back to the lowest closing levels of 2021, the day is an adjustment on the local stock exchange, driven by good corporate results from listed companies.

Marfrig ON advanced 2.84%, after reporting a profit of R$ 1.67 billion in the quarter, an increase of 148.7% in relation to the same period of the previous year. The result boosts the actions of sectorial peers, which are positive highlights on the Ibovespa. JBS ON gained 2.79%, BRF ON gained 2.81% and Minerva ON rose 2%.

“Marfrig reported strong and better-than-expected results in the third quarter, with an Ebitda of R$4.734 billion, 16% above our expectations and 116% above last year’s levels,” said JP Morgan analysts.

The financial sector is also highlighted after the release of Santander’s balance sheet. The company reported managerial net income of R$4.340 billion in the third quarter, an increase of 12.5% ​​compared to the same period last year and an increase of 4.1% compared to the immediately previous quarter. The result came above the projections of analysts consulted by Value, which pointed to a gain of R$4.184 billion. Thus, the company’s units registered an increase of 1%.

According to Pedro Leduc, analyst at Itaú BBA, Santander Brasil’s result was ‘decent’. “Net income rose beyond our estimates, reaching R$4.3 billion against our forecast of R$4.1. We expect a neutral to positive market reaction as investors look to 2022,” he says.

The valuation of companies, however, is limited by the caution that still persists in the local scenario with fiscal and macroeconomic noises. Yesterday, indications that price pressures remained robust in the IPCA-15 in October triggered a new day of stress in fixed income markets and financial agents started to expect a more forceful action from the Central Bank to anchor inflation expectations.

In addition, agents should continue to monitor new attempts by Congress to increase public spending. Today, the Plenary of the Chamber meets this afternoon and can vote on PEC 23/21 – which limits the payment of court orders and revises the calculation of the readjustment of the spending ceiling.

Second document obtained by Value, if the PEC is approved, Congress expects to expand the electoral fund from R$ 2.1 billion to R$ 5 billion and include R$ 16 billion for works for nominating congressmen, the so-called rapporteur amendments, in the 2022 Budget.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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