INSUBCONTINENT EXCLUSIVE:
The Brazilian stock market experienced a significant rally, with the Ibovespa index climbing nearly 2,000 points, driven by strong support
from Petrobras and advancements in the fiscal package being discussed in Congress.On December 5, the Ibovespa rose by 1.40%, closing at
In contrast, the dollar fell to R$ 6.0097, reflecting a decrease of 0.63%
Investors reacted positively to the progress of the fiscal package in Congress.The package aims to authorize the government to limit the use
of tax credits in cases of public account deficits and adjust expenses related to the minimum wage within fiscal framework limits.On
December 4, the Chamber of Deputies approved an urgent regime for this proposal
This move expedited its processing by removing certain deadlines and bypassing committee reviews.This move is seen as a crucial step in
From a macroeconomic perspective, Brazil reported a trade surplus of R$ 7.030 billion for November, according to the Ministry of
Development, Industry, Commerce, and Services.Brazilian Stock Market Surges Over 1% Amid Fiscal Package Progress
(Photo Internet reproduction)However, this figure fell short of market expectations and was 20% lower than November of the previous year
Economists had anticipated a surplus of R$ 7.800 billion for the month.Market DynamicsAs the trading day progressed, market analysts noted
that there was a 36% probability of a 100 basis point increase in the Selic rate this month, compared to a 64% chance for a 75 basis point
hike.These probabilities shifted from previous estimates of 44% and 56%, respectively
Office regarding governance issues post-privatization.Azul Airlines led gains among major stocks as a weaker dollar and declining Brent
crude oil prices bolstered its performance
A weaker dollar typically enhances international ticket sales while lower oil prices reduce fuel costs.Conversely, Vale saw its shares
decline despite positive iron ore prices in China, while Petrobras also recorded gains exceeding 1%
CVC faced significant losses, dropping over 8%, continuing its downward trend with an annual decline of approximately 33%.On the
international front, United States stock indices retreated from their recent highs amid new labor market data
now await the official employment report for November, expected to show an increase of approximately 214,000 jobs.
