Brazilian stocks finished the trading day in negative territory on Wednesday, with the benchmark Bovespa index down 0.47% at the close in Sao Paulo. The retreat was led by declines across the Consumption, Industrials and Electric Power sectors.
Session highlights
The strongest performers on the Bovespa included Bradespar SA (BRAP4), which advanced 3.15% - a gain of 0.77 points - to close at 25.25. Usinas Siderurgicas de Minas Gerais SA USIMINAS Pref (USIM5) rose 3.06%, up 0.20 points to finish at 6.73. Vale SA (VALE3) also moved higher, gaining 2.47% or 2.17 points to end the session at 89.90.
On the downside, Cinema and retail-linked Magazine Luiza SA (MGLU3) registered the largest drop, falling 5.53% or 0.56 points to close at 9.57. Cvc Brasil ON (CVCB3) declined 5.49%, losing 0.13 points to end at 2.24. Sendas Distribuidora SA (ASAI3) decreased 4.60%, down 0.45 points to finish at 9.34.
Market breadth on the B3 exchange showed more decliners than advancers: 494 stocks fell compared with 421 that rose, while 54 issues finished unchanged.
Volatility, commodities and currencies
The CBOE Brazil Etf Volatility, which tracks implied volatility in options tied to the Bovespa, climbed 0.91% to 33.30.
In commodities trading, Gold Futures for April delivery were up 0.48% - a rise of 24.65 - to $5,200.95 a troy ounce. Crude oil for April delivery slipped 0.06% or 0.04, to $65.59 a barrel. The May US coffee C contract fell 0.39%, losing 1.10 to trade at $284.40.
On the currency front, the Brazilian real strengthened against the US dollar with USD/BRL down 0.55% to 5.13. The euro also eased against the real, with EUR/BRL falling 0.61% to 6.05. The US Dollar Index Futures moved lower by 0.14%, trading at 97.64.
Overall, the session left the Bovespa modestly lower with a greater number of individual stocks in retreat. Volatility in the local options market ticked up slightly and selected commodities and FX rates recorded modest moves by the close.