See the dollar rate this Tuesday – 01/24/2023 – Market

The spot dollar showed a slight rise in the first trades this Tuesday (24), after January inflation data slightly above expectations in Brazil and amid the strengthening of the US currency abroad against its main peers.

At 9:17 am (Brasília time), the spot dollar advanced 0.24%, to R$ 5.2117 in the sale.

The Stock Exchange and the dollar closed with moderate falls this Monday (23), with bank shares being the negative highlights of the day, while investors await the release of the IPCA-15, the first preview of official inflation in 2023, this Tuesday (24).

The Ibovespa closed in commercial spot dollar drop ended the day down 0.27%, to 111,737 points. The spot commercial dollar fell 0.11% to R$5.201.

Interest rates rose on Monday, after the release of the Central Bank’s Focus report. Contracts maturing in 2024 rose from 13.50% per annum at the close of last Friday (20) to 13.58%. For 2025, interest rates rose from 12.77% to 12.85%. For 2027, from 12.80% to 12.91%.

The stock market was up for most of the day, driven by Petrobras. The price of oil rose by almost 2% and around 6:30 pm, it rose by 0.50%. The state’s shares followed the same path, and after registering an increase of more than 4%, they closed up 1.59%, in the case of preferred shares, while common shares advanced 2.31%.

In the opposite direction, the shares of large banks, with important weights on the Ibovespa, began to fall more intensively this afternoon. In a report, Credit Suisse projects that the sector should present greater provisions against overdue credits, including due to the Americanas case, and the entire production chain that involves the retailer.

Analysts Marcelo Telles and Daniel Vaz claim, however, that they do not see “the accounting scandal” involving Americanas as a systemic risk, just as they highlight the overall good health of the corporate sector.

Credit Suisse cut the recommendation for Santander Brasil Units from neutral to sell, and the stock fell 4.08%. Bradesco’s common and preferred shares fell by 3.18% and 4.22%, respectively. Itaú Unibanco’s preferred shares fell by 3.06%.

A TradeMap survey shows that Banco do Brasil’s common stock is the highlight within the sector in 2023, until this Monday. The paper rises more than 14% in January. On Monday, it ended in a fall of 0.74%.

The day is also marked by the withdrawal of Americanas from the Ibovespa. Friday (20) was the last trading day for the group’s common shares, after filing for bankruptcy protection.

Now, Americanas shares enter the category known as penny stock, when they are worth less than R$1. If they remain in this situation for 30 consecutive days, the company will be notified by B3, and will have 15 days to present a solution. Otherwise, it will be punished with a daily fine by the Exchange.

Americanas common stock closed up 12.67%, quoted at R$0.80. This Monday, the company asked for another 48 hours to deliver its list of creditors in the judicial recovery.

The trio of reference shareholders of Americanas, Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira, who together own 31% of the company, released a note this Sunday (22) in which they claim that they were never aware of and would never admit any maneuvers or dissimulations accounting in the company.

In New York, the main stock indices closed higher, in anticipation of the announcement of results from giants in the technology sector this week, such as Microsoft, Tesla and Intel.

The market is already trying to anticipate a decrease in the pace of interest rate hikes by the Federal Reserve (Fed), the central bank of the United States. According to Bloomberg, analysts project a resumption of the high of 0.25 percentage points in the rate at the meeting scheduled for next week, after some increases of 0.50 points in the last meetings.

The Dow Jones Industrial Average rose 0.76%, the S&P 500 ended the day up 1.19%, and the Nasdaq gained 2.01%.

With Reuters