{"id":1660,"date":"2025-11-13T22:45:45","date_gmt":"2025-11-14T01:45:45","guid":{"rendered":"https:\/\/www.pulseq.com.br\/bolsa-varejo-e-startups-o-que-moveu-o-mercado\/"},"modified":"2025-11-25T03:26:05","modified_gmt":"2025-11-25T06:26:05","slug":"retail-stock-market-and-startups-what-moved-the-market","status":"publish","type":"post","link":"https:\/\/www.pulseq.com.br\/en\/retail-stock-market-and-startups-what-moved-the-market\/","title":{"rendered":"Stock market, retail, and startups: what drove the market?"},"content":{"rendered":"
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Podcast about the subject<\/strong> Listen on Spotify<\/a><\/p>\n

The Brazilian stock market continues its upward trajectory, with the Ibovespa closing on Thursday (13) at 157,632 points, after a slight drop of 0.07% in the last trading session. Despite the occasional decline, the index accumulates a gain of 29.08% in 2025, the largest since 2019, driven by oil companies, mining companies and banks. The dollar also fluctuated, ending the day at R$ 5.2975, with an increase of 0.10%.<\/p>\n

Economic indicators and expectations<\/h3>\n

Retail sales data for September showed an increase of 21% year-on-year and a rise of 0.31% month-on-month, according to the IBGE's Monthly Retail Trade Survey (PMC). However, the performance was regionally uneven: Tocantins led the increases (3.21%), while Maranh\u00e3o and Roraima registered the largest declines. The expanded retail sector stood out in Tocantins (11.41%, but fell in states like Paran\u00e1 and S\u00e3o Paulo.<\/p>\n

These figures indicate a still fragile recovery in consumption, with a direct impact on companies in the sector. Even so, the expectation is that promotional events such as Black Friday and Black November could boost sales in the coming weeks.<\/p>\n

Corporate results and impacts<\/h3>\n

Among the companies, Casas Bahia reported revenue growth and improved EBITDA in the third quarter, but its net loss exceeded expectations due to high financial expenses. Banco do Brasil, on the other hand, recorded results below expectations, with increased provisions and deterioration in asset quality, especially in rural credit and retail portfolios. The bank revised its profit guidance downwards and increased its provision forecast.<\/p>\n

Other highlights included Ultracargo, with a slight decrease in EBITDA, and Hidrovias, which showed operational progress and a reduction in leverage to 1.7x, benefiting from lower net debt and higher cash generation.<\/p>\n

Technology and startups: recent developments<\/h3>\n

In the technology and startup landscape, the Brazilian Sovereign Plan has been expanded by the government, facilitating companies' access to the program and reducing requirements that impact exports. This measure aims to stimulate sectors affected by international tariffs and may benefit startups linked to innovation and exports.<\/p>\n

Furthermore, shares of companies in the education sector, such as Cogna, lead the ranking of appreciation in 2025, with an increase exceeding 240%. This movement reflects investors' interest in scalable and resilient business models, even in scenarios of moderate consumption.<\/p>\n

Impacts and perspectives<\/h3>\n

Economic indicators, corporate results, and public policies signal a scenario of gradual recovery, but still with challenges. The stock market's advance and interest in technology and startups indicate that the market is seeking opportunities in sectors with growth potential, even in the face of still fragile consumption.<\/p>\n

The coming weeks will be crucial in assessing the impact of promotional activities, inflation trends, and the Copom's decisions on interest rates. The political environment and international negotiations will also continue to influence investor expectations.<\/p>\n

Photo by Mobina Ghazazani on Unsplash<\/small><\/p>","protected":false},"excerpt":{"rendered":"

The Brazilian stock market continues its upward trajectory, with the Ibovespa closing on Thursday (13) at 157,632 points, after a slight drop of 0.07% in the last trading session. Despite the one-off decline, the index accumulates a gain of 29.08% in 2025, the largest since\u2026<\/p>","protected":false},"author":0,"featured_media":1661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow74DeCw:productID":"","footnotes":""},"categories":[109],"tags":[372,50,29,27,308],"class_list":["post-1660","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artigos","tag-bolsa","tag-economia","tag-startups","tag-tecnologia","tag-varejo"],"_links":{"self":[{"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/posts\/1660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/comments?post=1660"}],"version-history":[{"count":2,"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/posts\/1660\/revisions"}],"predecessor-version":[{"id":2701,"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/posts\/1660\/revisions\/2701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/media\/1661"}],"wp:attachment":[{"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/media?parent=1660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/categories?post=1660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pulseq.com.br\/en\/wp-json\/wp\/v2\/tags?post=1660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}