Brazil Stocks Slip 0.2% as Real Firms 0.6% | Morning Call, Oct 20
Brazil's main stock index slipped 0.2% and the real firmed 0.6% on Monday. The Selic stands at 13.75% ahead of the 4 November Copom decision. The post Brazil Stocks Slip 0.2% as Real Firms 0.6% | Morning Call, Oct 20 appeared first on The Rio Times .
Brazil's stocks slipped by 0.2% on Tuesday, while the real strengthened by 0.6% against the dollar. The B3 market opened focused on the Selic interest rate wager, rather than yesterday's closing figures. With the next Copom decision scheduled for November 3-4, traders are expecting the central bank to cut the Selic rate further.
The Ibovespa closed at 205,079.25 on Monday, with the real closing at 5.03 per dollar. No clear direction was expected for the market's opening. Traders will be watching rate-sensitive domestic names Romi and Neoenergia, as well as the release of their third-quarter earnings. The Selic rate stands at 14.00% after a 0.25-point cut in September.
The upcoming Copom meeting will provide further insight into the central bank's rate policy, which currently has significant implications for Brazilian equities.
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