Drop in the Main Index
The Ibovespa started the trading session this Friday (25) in negative territory, renewing lows and operating below 183 thousand points. The pressure came mainly from the inflation preview, which exceeded projections and reduced the room for further cuts in the Selic rate.
Inflation Above Forecast
The September IPCA-15 recorded a rise of 0.70%, against an expectation of 0.53%. The result, driven by services and volatile items such as airfares and fuels, raised concerns about the disinflation trajectory. Economists warn that the Central Bank may limit interest rate cuts in the coming meetings.
Dollar and Interest Rates in Focus
The commercial American currency rose and renewed highs, quoted above R$ 5.21. Future interest rates operated mixed, with slight increases in some maturities, reflecting the scenario of more persistent inflation.
Highlights on the Stock Exchange
- Biggest gains: AZZA3 (+3.10%), VIVA3 (+2.80%) and BEEF3 (+2.72%)
- Biggest losses: UGPA3 (-3.71%), VBBR3 (-3.52%) and Petrobras shares, with PETR4 falling more than 2%
Large banks had mixed performance, while trading volume remained high.
International Scenario
Abroad, the meeting between Trump and Xi Jinping generated expectations of trade advances, but oil retreated with signs of possible relief in the Middle East. The EU released 6.6 billion euros in military aid to Ukraine.
In the cryptocurrency market, the exchange Bitget suspended withdrawals after detecting unauthorized transfers of US$ 351.6 million.
Outlook
Investors remain attentive to the Central Bank's reaction to the inflation data and the progress of trade negotiations between the US and China. The session remains volatile, with focus on fiscal consolidation and the domestic electoral scenario.