Ibovespa Edges Up on Fiscal Adjustment Bill Approval

2026-11-13 13:45 By Isabela Couto 1 min. read

The Ibovespa edged higher to near 172,000 on Friday following the Senate’s approval of the federal government’s fiscal adjustment bill.

The Senate approved the main text of a complementary bill the previous day.

The bill provides for fiscal measures with an estimated impact of up to R$60 billion in 2027 to ensure surplus targets.

However, senators are only expected to analyze amendments that could still modify its content next Tuesday.

JPMorgan believes the government’s proposed 2027 fiscal measures are insufficient given the size of the public accounts challenge and may pressure companies, recommending caution with Brazilian equities.

Financials were mixed, Itaú and Bradesco gained nearly 0.5%, while Banco do Brasil fell about 1%, extending an 8.6% slump from the previous session following weaker-than-expected results.

B3 also fell 1% despite reporting revenues above estimates.

Elsewhere, Rede D’Or rose over 2.5% after posting EBITDA in line with estimates.



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Ibovespa Edges Up on Fiscal Adjustment Bill Approval
The Ibovespa edged higher to near 172,000 on Friday following the Senate’s approval of the federal government’s fiscal adjustment bill. The Senate approved the main text of a complementary bill the previous day. The bill provides for fiscal measures with an estimated impact of up to R$60 billion in 2027 to ensure surplus targets. However, senators are only expected to analyze amendments that could still modify its content next Tuesday. JPMorgan believes the government’s proposed 2027 fiscal measures are insufficient given the size of the public accounts challenge and may pressure companies, recommending caution with Brazilian equities. Financials were mixed, Itaú and Bradesco gained nearly 0.5%, while Banco do Brasil fell about 1%, extending an 8.6% slump from the previous session following weaker-than-expected results. B3 also fell 1% despite reporting revenues above estimates. Elsewhere, Rede D’Or rose over 2.5% after posting EBITDA in line with estimates.
2026-11-13
Ibovespa Falls Following Inflation Report
The Ibovespa fell 0.4% to close at 171,324 on Thursday following the release of October’s inflation data and amid a new batch of corporate earnings. Annual inflation rose to 4.63% in October from 4.58% in September, below market expectations of 4.74% but marking a four-month high and remaining above the BCB’s 4.5% target ceiling. With inflation still above target, the BCB is expected to remain cautious about resuming the Selic easing cycle. Credit-sensitive stocks fell. Financials declined, with Banco do Brasil plunging nearly 8.6% after Q3 results missed estimates and the bank cut its projections and dividends. B3 shed 0.5% ahead of its earnings. Utilities declined, with Axia down 2.8%. Elsewhere, Rede D’Or shed 0.8% ahead of its results. Vale fell over 1% on lower iron ore prices. Petrobras jumped 2.8% as the oil rally resumed. Meantime, bond yields rose as the government’s fiscal adjustment proposal disappointed markets.
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Ibovespa Closes Higher on Fiscal Adjusment Prospects
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