Ibovespa moves forward with intense corporate news despite unfavorable exterior By Reuters

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Β© Reuters. .

Por Paula Arend Laier

SAO PAULO (Reuters) – O sought to hold on to the blue on Monday, after wavering at the opening, in a session marked by a battery of corporate news, while overseas markets began the week reflecting concerns about the increase in cases from Covid- 19 in Europe and the United States.

At 11:21, the Ibovespa was up 0.49% to 101,753.69 points. The financial volume was 5 billion reais.

On Wall Street, trading sessions were working in the red, with fears about the growth of coronavirus cases and the stalemate in Washington over the next fiscal aid package, with financial agents also monitoring the approaching presidential election on November 3. The North American decreased 0.86%.

“It is becoming difficult for investors to keep a cool head. The number of new Covid-19 cases continues to increase rapidly and an increasing number of European countries are moving towards another national lockdown,” said Milan Cutkovic, an analyst at Axi.

HIGHLIGHTS

– CIELO ON (SA πŸ™‚ was up 5.33%, with the result of the third quarter scheduled for Tuesday, after the market closing, on the radar. Goldman Sachs analysts, however, expect another set of weak results in the period, despite quarterly improvement from a low base. They estimate net profit of.

ELETROBRAS ON (SA πŸ™‚ e GNP ELETROBRAS (SA πŸ™‚ advanced 4.19% and 4.62%, respectively, finding support in a note from, from O Globo, citing that the Minister of Economy, Paulo Guedes, has told interlocutors that the privatization of the state-controlled electric has already is agreed with the Senate.

– IRB BRASIL (SA πŸ™‚ RE ON rose 3.07%, after announcing partnership with B3 to connect brokers, insurers and reinsurers in a single network, and allow operations, involving insurance and reinsurance contracts, to be carried out by Internet. B3 ON (SA πŸ™‚ was up 1.5%.

– AMBEV ON (SA πŸ™‚ was up 2.45%, helped by a report from XP Investimentos, restarting the share coverage with purchase recommendation and target price for the end of 2021 of 17.15 reais. “The worst is over, the future remains challenging, but the company is still the best in the industry,” he argued, citing that the market is overly pessimistic about the future of the beverage manufacturer.

PETROBRAS PN (SA πŸ™‚ e PETROBRAS ON (SA πŸ™‚ were down 0.92% and 0.73%, respectively, following the decline of foreigners, while financial agents await the result of the oil company scheduled for this week.

– VALE ON (SA πŸ™‚ was down 0.61%, as futures reached a 4-week low, with China’s port stocks reaching their highest level since February. Vale also releases its balance sheet this week.

– SANTANDER BRASIL UNIT (SA πŸ™‚ was up 2.44%, better performance among Ibovespa banks, on the eve of the disclosure of the third quarter balance sheet on Tuesday, before the market opened. In the sector, BRADESCO PN (SA πŸ™‚ increased 1.37% and ITAÚ UNIBANCO PN (SA πŸ™‚ increased 1.34%. BANK OF BRASIL ON (SA πŸ™‚ was up 0.39%.

– BTG PACTUAL (SA πŸ™‚ UNIT showed an increase of 0.21%, after announcing that, which has 16 billion reais in assets under custody, for 348 million reais. The bank said its intention is to keep the brand and operation independent.

– AZUL PN (SA πŸ™‚ and GOL (SA πŸ™‚ PN retreated 2.95% and 3.25%, respectively, amid fears of potential consequences of the increase in Covid-19 cases. Azul requested registration for the offer of 1.6 billion reais in debentures convertible into preferred shares for working capital, expansion of the logistics activity and other strategic opportunities.

– HYPERA ON appreciated 1.91%, after reporting last Friday’s increase in third quarter profit to 345.6 million reais, as the strong expense control employed by the pharmaceutical manufacturer offset the effects of sales in some categories due to the effects of the Covid-19 pandemic.

– KLABIN UNIT (SA πŸ™‚ increased 0.59%, after measured by Ebitda (earnings before interest, taxes, depreciation and amortization) adjusted to reach 1.2 billion reais, excluding non-recurring effects present in the third quarter result 2019, represents an increase of 59% year on year.

– TRACK & FIELD PN showed an increase of 0.43%, to 9.29 reais, in its debut at B3 after prefixing IPO last Thursday, to 9.25 reais per share, below the range estimated by the offer coordinators, from 10.65 to 14.95 each. The operation of the chain of sporting goods and beachwear stores moved R $ 523 million.



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