403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Ibovespa Dips Below 120,000 Points As Dollar Rises To R$6.11
(MENAFN- The Rio Times) The Ibovespa index began the trading session positively but quickly turned downward, closing at 119,623.18 points, a drop of 1.27%.
This decline marks a loss of momentum below the critical 120,000-point threshold, ending a streak of recent gains. Concurrently, the dollar appreciated by 0.08%, reaching R$6.11.
Market analysts attribute this shift to growing concerns surrounding the upcoming inauguration of U.S. President Donald Trump and the implications of his policies on global markets.
Investors remain cautious about the Federal Reserve 's next moves, particularly as officials signal a pause in interest rate cuts due to slow inflation and a resilient U.S. economy.
Rafael Passos, a partner and analyst at Ajax Asset, noted that many market participants have begun to push back expectations for interest rate cuts initially anticipated for the first half of the year, now looking towards July instead.
He stated,“This context of high American interest rates for an extended period negatively impacts flows to emerging markets.” Passos further emphasized that Brazil faces challenges with a stronger dollar and negative sentiment impacting local stocks.
The day's biggest loser was Carrefour (CRFB3), which plummeted by 11.87%. Other notable declines included Magazine Luiza (MGLU3) and Petz (PETZ3), falling by 6.82% and 4.88%, respectively.
Major players like Vale (VALE3) and Petrobras (PETR3; PETR4) also faced losses, with declines of 0.75%, 0.80%, and 1.00%.
This decline marks a loss of momentum below the critical 120,000-point threshold, ending a streak of recent gains. Concurrently, the dollar appreciated by 0.08%, reaching R$6.11.
Market analysts attribute this shift to growing concerns surrounding the upcoming inauguration of U.S. President Donald Trump and the implications of his policies on global markets.
Investors remain cautious about the Federal Reserve 's next moves, particularly as officials signal a pause in interest rate cuts due to slow inflation and a resilient U.S. economy.
Rafael Passos, a partner and analyst at Ajax Asset, noted that many market participants have begun to push back expectations for interest rate cuts initially anticipated for the first half of the year, now looking towards July instead.
He stated,“This context of high American interest rates for an extended period negatively impacts flows to emerging markets.” Passos further emphasized that Brazil faces challenges with a stronger dollar and negative sentiment impacting local stocks.
The day's biggest loser was Carrefour (CRFB3), which plummeted by 11.87%. Other notable declines included Magazine Luiza (MGLU3) and Petz (PETZ3), falling by 6.82% and 4.88%, respectively.
Major players like Vale (VALE3) and Petrobras (PETR3; PETR4) also faced losses, with declines of 0.75%, 0.80%, and 1.00%.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
More Story
Comments
No comment