Brazil’s main stock index ended on a negative note on Monday as shares turned negative after three straight days of gains, with investors getting worried about a pandemic that is far from controlled. Brazil expects to sign a new deal this week with Pfizer for 100 million more vaccine doses, as the country's death toll from COVID-19 continues to spiral out of control. On the economic front, the central bank weekly "Focus" survey showed inflation projections fluctuated from 5.04% to 5.06% in 2021 but remained at 3.61% for 2022. At the same time, growth forecasts were lifted to 3.21% from 3.14% in 2021, while GDP projections were lifted to 2.33% from 2.31% in 2022. Locaweb Servicos de Internet SA and Banco Inter SA were the biggest laggards on the index, down 5.3% and 4.9%, respectively.
Historically, the Brazil Stock Market (BOVESPA) reached an all time high of 125323.53 in January of 2021. Brazil Stock Market (BOVESPA) - data, forecasts, historical chart - was last updated on May of 2021.
The Brazil Stock Market (BOVESPA) is expected to trade at 118328.15 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 107857.28 in 12 months time.