|Day's Range||76,676.9688 - 78,454.4609|
|52 Week Range||69,069.0000 - 88,318.0000|
Brazil's benchmark Bovespa index rose 1.75 percent on Tuesday, rallying for a second straight day largely on a spike in commodities prices. Two of the Bovespa's most heavily weighted equities, miner Vale ...
Investors in Brazilian stocks should buckle up for more volatility as the country's upcoming presidential election approaches.
Improving corporate results are propping Brazilian stocks up and helping ease the blow from election uncertainty that’s sent the currency near its lowest level ever. It’s a welcome change after years of falling profits as Brazil weathered the worst recession in history. Corporate earnings are expected to grow 32 percent in 2018 and 19 percent in 2019, according to Roberto Serwaczak, Citigroup’s head of Latin America equity.
Forget all the talk about an escalating trade war damaging the U.S. economy or that the coming midterm elections threaten to throw the political system into disarray. In fact, they are loading up on super-safe cash-like instruments as bets on the Federal Reserve raising interest rates two more times before year-end reach a new high. Demand at the U.S. Treasury's bill auctions this week were on the high side, especially for 52-week bills.
Brazilian markets dropped as a poll showed left-wing candidates gaining support while those favored by investors stalled out with less than a month to go until the presidential election. The real and the benchmark stock index were the worst performers among major markets globally Tuesday, erasing all gains posted after last week’s knife attack targeting conservative Jair Bolsonaro spurred speculation his candidacy would get a boost. Candidates on the left, who investors fear would backtrack on efforts to shore up Brazil’s fiscal accounts, were the only ones who gained support at a level that exceeded the margin of error in a Datafolha poll released last night.
Brazilian legendary hedge-fund manager Luis Stuhlberger is taking advantage of election jitters to step up his bet on stocks. The "Brazilian market continues on its frantic search to adjust to election odds on a daily basis," Stuhlberger’s Verde Asset Management SA said in a monthly note to clients. The fund took advantage of the Ibovespa’s 11 percent drop in dollar terms last month to "marginally" increase its position on Brazil stocks.
It’s stacking up to be another roller-coaster week for emerging markets, still reeling from a sell-off that drove stocks into a bear market for the first time since March 2016. Central banks in Turkey and Russia will make key rate decisions, with investors waiting to see how far policy makers will go to defend their weakening currencies. Meantime, the near-fatal stabbing of election front-runner Jair Bolsonaro will remain a focus in Brazil.
The assassination attempt that upended Brazil’s presidential race is also resetting the outlook for the country’s markets. Brazil equities, the currency and sovereign bonds have all rallied since front-runner Jair Bolsonaro suffered a near-fatal stabbing at a campaign rally Thursday, and RBC Capital Markets to Aberdeen Asset Management have made favorable comments about Brazilian assets in the aftermath.
Brazil’s far-right presidential candidate Jair Bolsonaro, who leads opinion polls ahead of the October vote, was stabbed during a rally on Thursday afternoon and is being treated in hospital. Bolsonaro’s son, Flavio, confirmed on Twitter that his father was stabbed in the abdomen in the city of Juiz de Fora, in the state of Minas Gerais. After initially saying the candidate was doing fine, he later said the injuries were more serious than first reported but that his father was "stable now." Video footage showed Bolsonaro atop supporters’ shoulders, clutching his stomach and grimacing after the assault.
Argentina's benchmark stock index jumped more than 4 percent on Wednesday and the peso currency appreciated after the government raised the prospect of a new deal with the International Monetary Fund after ...
Last week’s gains may turn into yet another short-lived reprieve as Turks return to work after a long holiday and anxiety over elections in Brazil grows. There are other reasons for investors to shun riskier assets. The trade skirmish between the U.S. and China may get uglier.
Latin American currencies snapped a string of gains on Thursday after a new round of U.S. and China trade tariffs kicked in, escalating a months-long trade war. The United States and China implemented ...
Mexico's peso firmed on Friday after U.S. and Mexican officials said they were close to settling differences in NAFTA trade talks, while Brazilian equities slid on presidential race jitters. Mexico's peso ...
Emerging-market assets fell for a third week as investors digested Turkey’s promise to refrain from capital controls and moves by the U.S. and China to restart trade negotiations. Turkey’s credit rating was cut further into junk. The MSCI Emerging Markets Index fell 3.7 percent in its biggest weekly decline since February as of the U.S. close Friday, while a gauge tracking currencies dropped 0.8 percent.
Latin American equities rebounded moderately on Tuesday, as Turkey's lira currency pulled out of a nosedive, reversing a broader emerging markets selloff for the time being. After a three-week drubbing, ...
Iguatemi Empresa de Shopping Centers SA, an upscale mall operator that recently joined Brazil's benchmark Bovespa index, is preparing to launch an e-commerce initiative in the first half of 2019, an executive said on Wednesday. Speaking to analysts following the company's second-quarter results, Chief Executive Carlos Jereissati attributed a 23 percent rise in administrative expenses in part to the costs of launching the e-commerce unit. "We're going to enter into the world of e-commerce, taking advantage of Iguatemi as a brand and as a trend-starter," he said.
Mexican equities and the peso rose on Tuesday amid signs of progress in the renegotiation of the North American Free Trade Agreement and on the back of a combination of solid corporate results, rising ...
Equities in Latin America rose on Tuesday, as a combination of solid corporate results, rising commodities prices and a strong day on Wall Street combined to more than erase Monday's losses. In Brazil, ...
Emerging-market assets resumed declines as an escalation in trade clashes between the U.S. and China deterred risk-taking in an already fragile developing-market landscape. The MSCI Emerging Markets Index of stocks fell 1.7 percent, the most since June, while a gauge tracking developing-economy currencies declined 0.5 percent.
Brazilian stocks led gains in Latin America after state-controlled oil company Petróleo Brasileiro SA reported a larger-than-expected jump in quarterly net profit. Rising oil prices and diesel subsidies allowed Petrobras, as the firm is known, to boost its market share, driving up its shares by more than 5 percent. That was the largest increase since May 23 when its former chief executive officer, Pedro Parente, voluntarily cut diesel prices in a bid to defuse a nationwide truckers' protest over rising fuel costs that paralyzed Latin America's top economy.