Shares in Brazil ended the trading session on Wednesday with the Bovespa index down 2.22%, closing at a level that the market described as a new three-month low. Weakness was broad-based, led by declines in the Real Estate, Consumption and Financials sectors, which collectively dragged the benchmark lower.
At the individual stock level, Companhia de Saneamento de Minas Gerais Copasa MG (BVMF:CSMG3) was the session's top performer on the Bovespa, advancing 13.34% or 7.06 points to finish at 54.58. Minerva SA/Brazil (BVMF:BEEF3) gained 2.29% or 0.08 points to close at 3.61, and Suzano Papel e Celulose SA (BVMF:SUZB3) rose 1.95% or 0.79 points to end the day at 40.94.
By contrast, several names recorded steep losses. Azzas 2154 SA (BVMF:AZZA3) slid 8.48% or 1.61 points to close at 17.40, making it one of the worst performers of the session. Hapvida Participacoes e Investimentos (BVMF:HAPV3) fell 8.26% or 1.01 points to 11.11, and Cosan SA Industria e Comercio (BVMF:CSAN3) dropped 7.73% or 0.30 points to finish at 3.58.
Market breadth on the B3 Stock Exchange was negative, with 647 stocks declining versus 324 advancing, and 38 names ending unchanged.
Two stocks reached five-year lows during the session: Azzas 2154 SA (BVMF:AZZA3), which fell to 17.40, and Cosan SA Industria e Comercio (BVMF:CSAN3), which closed at 3.58.
Volatility as measured by the CBOE Brazil Etf Volatility index was lower, slipping 2.53% to 30.44.
Commodities and currencies showed mixed moves. Gold Futures for August delivery declined 1.17% or $52.75 to $4,467.15 a troy ounce. Crude oil for July delivery rose 2.66% or $2.49 to $96.25 a barrel, while the July US coffee C contract fell 2.53% or $6.55 to trade at $252.65.
Currency pairs reflecting demand for the dollar versus the real and the euro moved higher. USD/BRL was up 1.14% to 5.06, and EUR/BRL rose 0.88% to 5.89. The US Dollar Index Futures climbed 0.32% to 99.50.
Market snapshot
- Bovespa -2.22% to a three-month low
- Leading gainers included CSMG3 (+13.34%), BEEF3 (+2.29%), SUZB3 (+1.95%)
- Top decliners included AZZA3 (-8.48%), HAPV3 (-8.26%), CSAN3 (-7.73%)
- Decliners 647, Advancers 324, Unchanged 38
- Volatility index VXEWZ -2.53% to 30.44