Brazilian equities closed weaker on Tuesday, with the Bovespa slipping 0.25% at the end of the trading day in Sao Paulo as declines in the Real Estate, Consumption and Industrials sectors pressured the market.
Session leaders
The session's top performers were CSN Mineracao SA (BVMF:CMIN3), Prio SA (BVMF:PRIO3) and Azzas 2154 SA (BVMF:AZZA3). CMIN3 climbed 5.08% - a gain of 0.22 points - to finish at 4.50. PRIO3 rose 4.97% or 2.66 points to close at 56.02. AZZA3 advanced 3.61% - up 0.63 points - ending the day at 18.06.
Largest decliners
On the downside, Marfrig Global Foods (BVMF:MBRF3) led losses, declining 4.14% or 0.68 points to end at 15.81. C A Modas SA (BVMF:CEAB3) slipped 4.13% - down 0.44 points - to 10.21. YDUQS Participacoes SA (BVMF:YDUQ3) dropped 3.80% or 0.33 points, finishing at 8.37.
Market breadth and volatility
Decliners outpaced advancers on the B3 exchange, with 511 stocks falling versus 436 rising, while 38 issues closed unchanged. The CBOE Brazil Etf Volatility, which gauges the implied volatility of Bovespa options, increased 1.33% to 30.48 during the session.
Commodities and currency moves
Gold Futures for August delivery retreated 1.10%, a fall of 45.84, to $4,121.66 a troy ounce. In energy markets, crude oil for August delivery rose 5.13% or 3.52, reaching $72.07 a barrel. The September US coffee C contract moved lower, down 9.30% or 32.55 to trade at $317.40.
In FX trading, the Brazilian real weakened against the dollar and euro. USD/BRL was up 0.51% at 5.15, while EUR/BRL rose 0.18% to 5.90. The US Dollar Index Futures were reported up 0.23% at 100.85.
Implications and closing note
Tuesday's action left the Bovespa modestly lower after sectoral headwinds and a mixed picture across individual names. Volatility as measured by the CBOE Brazil Etf Volatility ticked higher, while commodities experienced divergent moves with oil strengthening, gold easing and coffee falling sharply. Market breadth favored decliners as the session concluded in Sao Paulo.
Data recap
- Bovespa at close: -0.25%
- Top gainers: CMIN3 +5.08% to 4.50; PRIO3 +4.97% to 56.02; AZZA3 +3.61% to 18.06
- Top losers: MBRF3 -4.14% to 15.81; CEAB3 -4.13% to 10.21; YDUQ3 -3.80% to 8.37
- Advancers/Decliners/Unchanged: 436/511/38
- CBOE Brazil Etf Volatility: +1.33% to 30.48
- Gold (Aug): -1.10% to $4,121.66 per troy ounce
- Crude Oil (Aug): +5.13% to $72.07 per barrel
- Coffee (Sep-US C): -9.30% to $317.40
- USD/BRL: +0.51% to 5.15; EUR/BRL: +0.18% to 5.90