Ibovespa recovers 99 thousand points; JBS shares soar more than 9% – 10/14/2020

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SAO PAULO (Reuters) – The São Paulo Stock Exchange maintained its positive bias today, in a session marked by the expiration of options on the Ibovespa and future index, with JBS firing after its parent holding company, J&F, reached an agreement with the US Department of Justice .

Reference index in the Brazilian stock market, the Ibovespa closed up 0.84%, at 99,334.43 points. The financial volume of the session totaled R $ 45.7 billion.

“Investors are beginning to price positive expectations for the balance sheets for the third quarter, making Ibovespa exceed 99,000 points,” said analyst Régis Chinchila, from Terra Investimentos.

Of the companies with shares on the Ibovespa, CSN opens the season on Thursday, after the market closes.

Chinchilla stressed, however, that tax issues are still on the radar, awaiting more details of social programs and administrative and tax reforms.

The upward trajectory was dampened by the negative influence of Wall Street, with the S&P 500 closing down 0.66%, with investors losing hope that a fiscal stimulus in the US will be approved before the elections in November.

Highlights

– JBS ON appreciated 9.2%, after J&F’s agreement with the US Department of Justice, pleading guilty to violating US legislation against corruption and will pay a fine of around 128 million dollars. The agreement, announced along with others involving units of the group, removes part of the uncertainties that hung over JBS ‘plans to go public on its international operations in the USA.

– VALE ON rose 1.38%, despite the fall in the price of iron ore in China. In the mining and steel sector, the positive sign prevailed, with CSN, which reports its balance sheet on Thursday, ending with a rise of 0.49%.

– B3 ON rose 2.88%. IBGE survey on the services sector showed that the only positive contribution in August, compared to the same month of 2019, came from other services (7.2%), driven mainly by the increase in revenue from the stock exchange and over-the-counter management companies ; securities brokers; and fund management activities by contract or commission. (https://bit.ly/37ifRED)

– MAGAZINE LUIZA ON fell 1.58%, to 25.59 reais, in the first trading session after splitting shares 1: 4, one day after the paper registered a record closing price of 104 reais. At the maximum, however, the stock reached 27.25 reais. In the segment associated with ecommerce, B2W ON reacted and increased 0.62%, while VIA VAREJO ON retreated 0.87%.

– PETROBRAS PN yielded 0.79% and PETROBRAS ON lost 0.6%, despite the increase in oil prices abroad, with Brent increasing by 2%. PETRORIO ON, in turn, shot 8%, with analysts citing recent data on oil exports by the State of Rio de Janeiro.

– ITAÚ UNIBANCO PN decreased by 0.29% and BRADESCO PN rose 0.1%, in a mixed session for banks.

– XP INC, which is traded in New York, increased 4.47%, after disclosing a third quarter operating preview, which ended with 563 billion reais in assets in custody, up 60% in 12 months and an increase of 29 % compared to the end of the second quarter. In the wake of the rival’s figures and with the IBGE’s figures in the background, BTG PACTUAL UNIT appreciated by 3.99%.

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