By Andre Romani
SAO PAULO (Reuters) – Brazil’s main stock index rose on Friday despite the uneven performance of markets on Wall Street, which react to the start of the quarterly earnings season and the continued sell-off of technology stocks.
Banks and Petrobras supported the advance of the local index, while Vale and steel companies were on the opposite side.
At 11:48, it was up 0.43% to 105,981.30 points, which would be up 3.2% for the week. The financial volume was 6.4 billion reais.
Sales in Brazil expanded 0.6% in November compared to the previous month, driven by supermarket numbers, albeit with a weaker impact from Black Friday. Analysts in a Reuters poll were expecting a decline of 0.2%.
The data comes a day after also beating market forecasts, following a series of weak results from economic activity recently.
In New York, major stock indices operated with no clear direction, with Composite rising and falling, in the wake of mixed results from banks including JPMorgan (NYSE:) (SA:) and Wells Fargo (NYSE:) (SA:). Papers of technology companies extended the eve’s fall.
In addition, the market was digesting the outcome of the meeting between representatives of tax auditors and the Minister of Economy, Paulo Guedes, on Thursday. Members of the category left the meeting frustrated with the failure to present a solution on the payment of the claimed efficiency bonus, and talking about the intensification of the protest movement.
– BR MALLS ON (SA:) rose 4.1% after rejecting a merger proposal submitted by rival ALIANSCE SONAE (SA:), whose shares fell 0.6%. BR Malls said the proposal “considerably understates the fair economic value” of the company and its asset portfolio. IGUATEMI UNIT (SA:) was up 2.1% and MULTIPLAN ON (SA:) gained 1.5%.
– VALE ON (SA:) dropped 0.3%, CSN ON (SA:) dropped 0.6%, while USIMINAS PN (SA:) advanced 0.2%. Prices in China have dropped.
– PETROBRAS PN (SA:) rose 0.8% and ON (SA:) operated up 1%, after the state-owned company reported a reduction in the 2022 production target, to reflect the effect of the result of the 2nd Bidding Round of the Surplus of the Transfer of Rights. advanced.
– BANK OF BRAZIL ON (SA:) rose 2%, SANTANDER BRASIL UNIT (SA:) advanced 0.5%, BRADESCO PN (SA:) gained 1% and ITAÚ UNIBANCO PN (SA:) was stable. Goldman Sachs (NYSE:) raised the recommendations of Santander Brasil and ITAÚSA to neutral and buy, respectively, and has Banco do Brasil and Bradesco as its industry favorites. In addition, UBS projected in a report the release of positive operating numbers by the country’s large banks for the fourth quarter.
– MAGAZINE LUIZA ON (SA:) rose 2.1% and AMERICANAS ON (SA:) advanced 0.2%, while VIA ON (SA:) dropped 0.8%, after surprising retail data. Among supermarkets, GPA (SA:) ON was down 0.5% and CARREFOUR BRASIL ON (SA:) was down 1.2%.
– MINERVA ON (SA:) rose 2.1% after announcing that it is considering migrating its shareholding base abroad. The company is inclined to switch to US-based Nasdaq, a source close to the company told Reuters.
– CYRELA ON (SA:) was down 1.1% after reporting fourth-quarter operating figures, with net sales and launches falling year-on-year.
– LOCAWEB ON (SA:) dropped 3.3%, heading for the third consecutive low.
– CAMIL ON (SA:), which is not listed on the Ibovespa, sank 11.5%, after disclosing .
(Edition Alberto Alerigi Jr.)