Market and technology: startups drive growth.

Financial market registers historic sequence of gains.

The Ibovespa, the main index of the Brazilian stock exchange, closed with a slight drop of -0.07% in the last trading session, quoted at 157,633 points, but maintains an upward trend in the medium and short term, accumulating 14 consecutive gains and approaching a historical record of 15 consecutive days of gains, registered in 1994.

This appreciation has been driven by sectors such as oil, mining and banking, in addition to the growth of technology companies and startups that are gaining prominence in the Brazilian market in 2025.

Startups and technology: the engine of value creation and innovation.

The appreciation of stocks in the market reflects a broader scenario of innovation and growth in the technology and startup sector. Companies like Cogna lead the ranking of stocks that appreciated the most in 2025, with an increase of 240,16%, a result of financial restructuring and a recovery in results in the education sector, which is increasingly integrating technology into its services.

Besides Cogna, other companies linked to innovation, such as Movida and Moura Dubeux, also doubled in value by 2025, demonstrating the sector's strength amidst a business environment that favors digital transformation.

Economic and political context influences the market and startups.

The market is closely monitoring recent economic indicators, such as the Monthly Retail Trade Survey, which showed regional variations in retail sales in September, with growth in some regions and decline in others, as well as inflation and monetary policy. Expectations regarding the minutes of the Monetary Policy Committee (Copom) meeting and potential cuts to the Selic rate starting in January 2026 have impacted investor appetite.

In the political arena, negotiations between Brazil and the United States to reduce trade tariffs stand out, which could benefit exporting companies and startups seeking to expand international markets. The recent meeting between Foreign Minister Mauro Vieira and US Secretary of State Marco Rubio reinforces the progress of these talks.

Impacts and perspectives for business and technology.

The current environment creates both opportunities and challenges for startups and technology companies. The prospect of lower interest rates tends to stimulate investment in innovation and expansion, while political stability and advances in international trade relations may open new avenues for the growth of Brazilian businesses abroad.

On the other hand, challenges such as regional economic volatility and increased provisions in financial sectors demand caution and strategic planning from startups and investors.

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