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Ibovespa surges to 192,000 points ahead of Brazilian elections
The Brazilian stock market experienced significant volatility and growth in the final trading session before the first round of presidential elections. The Ibovespa index surged 2.63%, reaching 192,114.55 points, its highest level since April. This rally was supported by positive international sentiment following weak US labor market data, which showed only 29,000 jobs created in September, lowering expectations for aggressive interest rate hikes by the Federal Reserve.
Petrobras was a major driver of the market's performance. The company announced a new oil discovery in the Morpho well within the Foz do Amazonas Basin, located in ultra-deep waters off the coast of Amapá. Consequently, Petrobras shares rose, and the company reached a historic market capitalization of R$ 700 billion.
Despite the market gains, investor uncertainty remains high due to the upcoming election. The VIX Brasil, an indicator of market volatility, hit a new record high of 32.39 points. Analysts noted that while the Ibovespa rose, the market is pricing in significant risks associated with the political transition. Other notable performers included Hapvida, which saw shares jump over 11% due to expectations of operational improvements.
Entities
B3 · Federal Reserve · Flávio Bolsonaro · Hapvida · Ibovespa · Luiz Inácio Lula da Silva · Petrobras · Santander · Vale
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Investors maintained caution due to the upcoming presidential elections. tnonline.uol.com.br
- [○ 1 SOURCE] US 10-year Treasury yields reached 5.29% per year.
- [● 4 SOURCES] Petrobras shares rose 1.80% for common shares and 1.32% for preferred shares. www.dgabc.com.br · exame.com
- [● 4 SOURCES] The US dollar closed at 5.22 Brazilian reais. www.dgabc.com.br · dropsdejogos.uai.com.br · exame.com
- [● 4 SOURCES] Brent crude oil rose 4.37% to reach US$ 102.31 per barrel. tnonline.uol.com.br · exame.com
- [● 3 SOURCES] Santander led losses among banks with a 2.96% decline. exame.com
- [● 7 SOURCES] The Ibovespa index rose 0.46% to close at 187,197.46 points. tnonline.uol.com.br · www.dgabc.com.br · exame.com · www.brasilemfolhas.com.br
- [○ 1 SOURCE] Vale shares increased by 0.56%.
- [● 2 SOURCES] The Brazilian presidential election is a tight race between Luiz Inácio Lula da Silva and Flávio Bolsonaro. diariodoestadogo.com.br
- [● 2 SOURCES] The VIX Brasil index reached a new record high, closing at 32.39 points. dev.tnonline.com.br · tnonline.uol.com.br
- [● 2 SOURCES] Datafolha research shows a technical tie between Lula and Flávio Bolsonaro. diariodoestadogo.com.br
- [● 5 SOURCES] The US labor market showed deceleration in September, with only 29,000 jobs created. diariodoestadogo.com.br · www.osul.com.br · www.seudinheiro.com · minhaseconomias.com.br