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Financial News: BRAZIL: Ibovespa Falls In Volatile Session

BRAZIL: Ibovespa Falls In Volatile Session

03/19/2018 - 15:10:00 (RTTNews)

(RTTNews) - After fluctuating between gains and losses, the Ibovespa closed down for the fourth consecutive trading session Friday with a slight drop of 0.05% to 84,886.49 points - reflecting the corporate news and caution among investors.

"Investors are waiting for news in the domestic market, and we have reacted more to the foreign market, but today the U.S. data were mixed," said Matheus Bantel, an analyst at Florença Investimentos.

Investors focused on corporate issues, including the news that Suzano will buy Fibria. Analysts believe the agreement would be positive, especially for Suzano (SUZB3). The company's shares rose 21.79% and had the best performance among Ibovespa constituents. For its turn, Fibria's shares (FIBR3) fell 10.21%.

For Ignacio Crespo, an economist at Guide Investimentos, the deal should give birth to a company with the worldwide leadership in short-fiber pulp production and trading, and there should be strong synergy.

Other stocks also had strong swings reacting to the financial statements released last night, such as Qualicorp (QUAL3 -11.68%), worst Ibovespa low, and Estácio (ESTC3 +8.98%), the second-best performer in the benchmark stock index in Brazil.

For the week ahead, analysts point out that the market should focus mainly on the monetary policy decision by the U.S. Federal Reserve and the Brazilian central banks, which both will occur Wednesday.

The locally traded U.S. dollar closed 0.36% lower, quoted at R$ 3.279, on a day marked by volatility and caution around the globe amid fears on the protectionist policies of U.S. President Donald Trump. In the week, the greenback rose 0.83% against the Brazilian real.

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