High global inflation and rising bets that the world will face an economic recession scenario continue to feed the financial market bears in the four corners of the world, monopolizing investor attention.
Even in a scenario marked by strong risk aversion, Wall Street’s major indexes took a breather from bleeding and saw a ray of hope in the weaker data on the US economy: the stock exchanges broke a series of three consecutive losses.
B3, however, still sees no reason to dream of better days – the news coming out of Brazil actually complicates matters further.
If the discussion about a more significant intervention in Petrobras (PETR4) has become softer, President Jair Bolsonaro again caused irritation this morning by publicly defending a 200 reais increase in Auxílio Brasil.
This and other public spending promises have been circulated in recent days, and while the Union has not released any other details, it is enough to allay the fears of a heavily indebted country without a financial balance.
Although Ibovespa has followed Wall Street’s rise this Friday (24), breathing has become shorter and risk aversion has intensified – inflation continues to show strength that could force our Central Bank to extend monetary tightening.
While the New York stock exchanges jumped about 3%, the main B3 index rose 0.60% to 98,672 points and fell 1.15% on the week. The spot dollar rose 0.44% to R$5.2527, gaining 2.11% over the past five sessions.
See everything that affected the markets this Fridayincluding corporate news highlights and Ibovespa’s best and worst performing stocks.
NEW EMPLOYEE, OLD PROBLEMS
Binance Announces Latam Gateway as New Payments Partner but Manages to Avoid Central Bank Rules? The world’s largest cryptocurrency exchange has its eye on Brazil, but monetary power will not bring a truce here.
BACK AND FORTH
Two-Way Street: See why Citi improved the retailer’s valuation but lowered its price target from VIIA3 to R$2.80.. Upside potential for the stock stands at 23%, according to the bank, which maintained its neutral rating on the company.
CVC (CVCB3) Raises BRL 402.8 Million Through Share Offering, But Must Accept Big Discount.Price per paper in the transaction amounted to 7.70 reais, which is 13.3% lower compared to Thursday’s close (23).
PicPay reduces account revenue, but absolute returns remain high. In an email sent to clients, the platform said that as of June 23, portfolios have stopped paying 105% CDI.
AND THE STATISTICS ARE INCREASING
The wave of layoffs does not have time to end: fintech Hash conducts another staff reduction. This is the third mass shutdown in three months for the startup, which has yet to reveal how many employees have been affected.