Brazil's Ibovespa climbed 1.3% to 114,648 on Friday, its highest since September 15th, lifted by shares in Brazilian food retailer GPA, which soared as much as 16% after the announcement of a deal to sell 71 of its stores to Assai for up to 5.2 billion reais. Meanwhile, investors weighed strong cues from their Wall Street peers against weak domestic data and concerns with the fiscal scenario, amid reports of a possible extension of emergency aid. On the data front, the IBC-Br index of economic activity in Brazil fell in August and more than market estimated, which bodes negatively to the country's economic performance in the third quarter. For the week, the key Brazilian stock index rose 1.6%, the most since the week ended June 4th.
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 October of 2021.
The Brazil Stock Market (BOVESPA) is expected to trade at 108861.47 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 97769.97 in 12 months time.