Brazilian equities ended Thursday's session with broad gains, the Bovespa finishing up 1.88% in Sao Paulo as sectors linked to Real Estate, Public Utilities and Electric Power provided upward momentum.
Leading the winners on the exchange was Marfrig Global Foods (BVMF:MBRF3), which advanced 7.80% - a 1.30 point increase - to close at 17.96. Software company Totvs SA (BVMF:TOTS3) also posted a strong performance, adding 5.74% or 1.69 points to finish at 31.13. Education group Cogna Educacao SA (BVMF:COGN3) rose 5.48%, gaining 0.12 points to end the day at 2.30.
Not all names moved higher. The heaviest declines were concentrated in steel and mining-related names. Usinas Siderurgicas de Minas Gerais SA USIMINAS Pref (BVMF:USIM5) fell 9.25%, a drop of 0.77 points, to close at 7.55. Companhia Siderurgica Nacional (BVMF:CSNA3) declined 4.81% or 0.25 points to 4.95, and CSN Mineracao SA (BVMF:CMIN3) slipped 4.35%, down 0.26 points to 5.72.
Market breadth favored advancers on the B3 exchange, with 545 stocks closing higher, 394 lower and 48 unchanged.
Market volatility gauges and commodity prices reflected mixed moves during the trading day. The CBOE Brazil Etf Volatility measure was up 0.76% to 27.69, indicating a slight rise in implied volatility for Bovespa options.
In commodity markets, Gold Futures for August delivery increased 1.82% - up $73.30 - to trade at $4,109.60 a troy ounce. By contrast, crude oil for September delivery eased 0.44% or $0.37 to $84.09 a barrel, and the September U.S. coffee C contract declined 0.40% or $1.30 to $324.50.
Foreign-exchange moves accompanied the session's returns. The USD/BRL exchange rate slid 1.07% to 5.06, while EUR/BRL fell 0.47% to 5.85. The US Dollar Index Futures was down 0.90% at 99.82.
Market takeaways
- Broad market advance safeguarded by gains in Real Estate, Public Utilities and Electric Power sectors.
- Significant divergence within industrials and materials - notable declines in steel and mining-related stocks.
- Movements in commodities and currency pairs accompanied equity moves, with gold up and oil and coffee softer.
Session statistics
- Bovespa close: +1.88%
- Top gainers: MBRF3 +7.80% (17.96), TOTS3 +5.74% (31.13), COGN3 +5.48% (2.30)
- Largest decliners: USIM5 -9.25% (7.55), CSNA3 -4.81% (4.95), CMIN3 -4.35% (5.72)
- Advancers vs decliners: 545 vs 394; unchanged: 48
- CBOE Brazil Etf Volatility: 27.69 (+0.76%)
- Gold (August): $4,109.60 (+1.82%)
- Crude Oil (September): $84.09 (-0.44%)
- Coffee C (September): $324.50 (-0.40%)
- USD/BRL: 5.06 (-1.07%); EUR/BRL: 5.85 (-0.47%)
- US Dollar Index Futures: 99.82 (-0.90%)