Brazilian Stocks Start the Week on a Strong Note
The Ibovespa edged up by 0.2% to close at 138,136 on Monday, interrupting the decline observed last week due to political unrest concerning contentious fiscal policies, such as the initially proposed but subsequently reversed increase in the Financial Transactions Tax. According to the central bank's Focus Bulletin, the median inflation projection for 2025 decreased for the fifth consecutive week, dropping from 5.51% to 5.50%, consistent with the central bank's hawkish stance. Meanwhile, the growth forecast for the year was significantly revised upwards to 2.14% from 2.02%, despite concerns regarding a prolonged period of high borrowing costs. On an international scale, emerging markets gained from the US's decision to delay tariffs against the EU. Braskem emerged as the leading performer, with a 4.2% increase, following Novonor's confirmation of receiving an offer from a fund led by businessman Nelson Tanure for the purchase of a controlling share in Braskem. Conversely, JBS was among the largest decliners, with its shares falling by nearly 3.6%.
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