Stock market retreats after 10 days of record highs; government expands

The market breathes a sigh of relief after a series of gains.

The Ibovespa closed this Thursday (13) down 0.07%, at 157,633 points, interrupting a sequence of more than ten consecutive days of records. The pause in the index reflects investor caution in the face of diplomatic movements between Brazil and the United States and the domestic economic agenda.

The dollar, in turn, closed up 0.10%, quoted at R$ 5.2975. The international scenario returned to focus after the end of the US government shutdown, while tariff negotiations between the two countries gain traction on trading desks.

Trading session highlights

Among the stocks that rose the most, Taísa led with a gain of 5.77%. CSN advanced 5.05%, while B3 climbed 4.36%, boosted by a conference call with analysts that explained the direction of the business.

On the downside, Banco do Brasil reported a 601% drop in profit compared to the previous year, pressured by rising default rates and increased provisions. The institution again lowered its projections for 2025.

Retail shows mixed signals.

The Monthly Retail Trade Survey (PMC) released by IBGE revealed heterogeneous performance in the retail sector in September. While supermarkets drove moderate increases, pharmaceutical and perfumery items rose 1.31% of the total sales period (TP3T), and personal care items advanced 0.51% of the total sales period (TP3T).

Regionally, 15 of the 27 federative units registered a decrease, with Maranhão (-2.2%) and Roraima (-2.0%) leading the losses. Tocantins (3.2%) and Amapá (2.9%) were among the positive highlights.

Government expands credit lines for businesses.

In response to the impacts of US tariffs, the National Monetary Council (CMN) approved changes to the Sovereign Brazil Plan this Thursday. The changes expand access to emergency credit lines, which total R$30 billion operated by BNDES.

The new rules strengthen eligibility criteria and include suppliers of exporting companies among the beneficiaries. The Vice-President and Minister of Development, Geraldo Alckmin, stated that the government is working on two fronts: diplomatic negotiation and direct support to the productive sector.

Brazil-US negotiations are progressing.

Brazilian Foreign Minister Mauro Vieira met with U.S. Secretary of State Marco Rubio in Niagara, Canada, on the sidelines of the G7 summit. The two discussed the progress of bilateral negotiations involving trade tariffs.

According to Itamaraty (Brazil's Ministry of Foreign Affairs), Brazil submitted a negotiation proposal to the United States on November 4th, following a virtual meeting between technical teams from both countries.

Innovation in impact investing

During its launch at COP 30 in Belém, the Impacta Brasil Portal presented 351 businesses focused on climate solutions. The platform, a joint initiative of the Ministry of Development with the Alliance for Impact and Climate Ventures, connects national and international investors to ventures throughout the country.

Photo by Anne Nygård on Unsplash