Brazil Stocks Hold Near Record Ahead of Fed and Copom Decisions
Brazil's Ibovespa index remains steady near 164,500 as investors await US inflation data and decisions from the Fed and Copom. Santander Brasil issued R$2.363 billion in subordinated financial bills. Brava's production fell 17.5% monthly, causing a 1% stock drop. Petrobras, WEG, and Axia saw slight gains, while Vale, Ambev, Itaú, and Bradesco declined. The PPI fell 1.82% year-on-year, marking the ninth consecutive negative reading.
The Ibovespa was steady near 164,500 on Friday as investors awaited US inflation data that could shape expectations for a Fed rate cut next week, coinciding with the Copom decision.
Confidence remains high that the figures will not derail the Fed’s easing path.
In corporate news, Santander Brasil was flat after issuing R$2.363 billion in subordinated financial bills to reinforce its reference equity.
Brava fell over 1% following a 17.5% monthly drop in production.
Meanwhile, Petrobras (+0.2%), WEG (+0.5%), and Axia (+0.7%) advanced, while Vale and Ambev edged lower.
Major banks also declined, with Itaú down 0.2% and Bradesco 0.4%.
On the macro front, the PPI fell 1.82% year-on-year, marking the ninth straight negative reading.
