The Ibovespa lost 518 points, or 0.5% to 109,718 on Thursday, snapping a seven-day winning strake dragged down by an over 3% loss in consumer cyclical stocks, real estate shares and healthcare companies. On the corporate front, Brazilian state-controlled lender Banco do Brasil on Wednesday reported its second-quarter net profit rose 38% from a year earlier, beating market forecasts. Marfrig also posted positive quarterly results. Meanwhile, petrochemical producer Braskem reported a net loss of 1.4 billion reais in the second quarter, as its bottom line was affected by foreign exchange losses. Among single companies, MRV slipped 11%, BRF ON tumbled more than 10% and Petrobras fell by over 2%.
Historically, the Brazil Stock Market (BOVESPA) reached an all time high of 131190.30 in June of 2021. Brazil Stock Market (BOVESPA) - data, forecasts, historical chart - was last updated on August of 2022.
The Brazil Stock Market (BOVESPA) is expected to trade at 102873.17 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 92790.28 in 12 months time.