Brazilian equities finished the trading session slightly in the green on Tuesday, with the Bovespa closing up 0.05% and recording a new one-month high in Sao Paulo.
Gains were concentrated in the Public Utilities, Electric Power and Telecoms groups, which provided the primary upward momentum for the benchmark. Despite the index-level advance, more individual issues declined than rose during the session.
Top performers
- Braskem SA (BVMF:BRKM5) led the winners, climbing 7.26% - an increase of 0.61 points - to finish at 8.95.
- RUMO Logistica Operadora Multimodal SA (BVMF:RAIL3) rose 2.95%, or 0.47 points, to close at 16.42.
- Raia Drogasil SA (BVMF:RADL3) gained 2.25%, adding 0.49 points to end the session at 22.31.
Largest decliners
- MRV Engenharia e Participacoes SA (BVMF:MRVE3) was the weakest large-cap name, down 9.45% - a drop of 0.75 points - to 7.22 at the close.
- Suzano Papel e Celulose SA (BVMF:SUZB3) fell 6.39%, or 3.17 points, to finish at 46.50. The stock moved to 52-week lows during the session.
- Cyrela Brazil Realty SA Preferred (BVMF:CYRE4) declined 5.65%, losing 1.40 points to close at 23.58.
Overall market breadth on the B3 Stock Exchange showed 558 stocks declining, 399 advancing and 50 unchanged.
Volatility and related measures
The CBOE Brazil ETF Volatility gauge, which tracks the implied volatility of Bovespa options, eased 0.26% to 38.72, indicating a slight reduction in expected near-term swings priced into options.
Commodities and foreign exchange
- Gold Futures for June delivery rose 1.14%, up $53.60, reaching $4,738.30 per troy ounce.
- Crude oil for May delivery fell 1.01%, a decrease of $1.14, to $111.27 per barrel.
- The May US coffee C contract declined 3.96%, dropping $11.80 to trade at $286.25.
- Currency moves included USD/BRL rising 0.25% to 5.15, and EUR/BRL up 0.66% to 5.98.
- The US Dollar Index Futures eased 0.36% to 99.44.
The session produced a modestly higher headline for Brazil's equity market, though the internals signaled a cautious tone as decliners outnumbered advancers. Commodity and currency markets exhibited mixed moves, with gold higher and crude and coffee lower, while implied volatility ticked down slightly.