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Brazilian stock market hits new record.
The Ibovespa, the main index of B3, closed on Monday (10) at 155,257 points, up 0.77% on the day and 29.08% in the year. It is the largest accumulated appreciation since 2019, when the index rose 31.58%. The rise was driven by shares of oil companies, mining companies and banks, which led the buying movement.
Expectations for an interest rate cut
The financial market is awaiting the minutes of the Monetary Policy Committee (Copom), released this Tuesday (11), and the October IPCA. If inflation comes in below expectations, there is a chance that the Central Bank will start reducing the Selic rate as early as January, instead of March. Lower interest rates tend to attract investments to the stock market.
Sovereign Brazil Plan expands access
The federal government has reduced the minimum export impact required for companies to join the Sovereign Brazil Plan, a support program for companies affected by US tariffs, from 5% to 1%. The measure expands the number of beneficiaries and includes suppliers from the impacted sectors.
Brazil-US meeting on tariffs
Brazilian Foreign Minister Mauro Vieira met with U.S. Secretary of State Marco Rubio in Niagara, Canada, to discuss trade tariffs. Brazil sent a formal proposal to the U.S. on November 4th, following a technical meeting between the teams. The goal is to reverse tariffs of up to 40% imposed by the U.S. government.
Companies are making progress in climate action.
The UN Global Compact in Brazil mobilized more than 130 companies for collective decarbonization actions. Among the highlights was the launch of a groundbreaking report on technological routes for low-carbon transportation, with the participation of Scania, CNT, ENEL, Eletrobras, and others. The document represents approximately 15% of the national GDP.
Photo by Mobina Ghazazani on Unsplash
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