“Good domestic actions should fall 20-30%”. Managers foresee a second chaotic one
With the EWZ down almost 20% after Lula's surprising victory, managers project a chaotic Monday in the markets. “Good domestic stocks, such as shopping malls and energy companies, should fall by 20 to 30%. Retailers, 60%. Banks, 15%,” said an equity fund manager.
Market analysts expect a chaotic Monday for Brazilian markets after Lula's surprise victory, with potential significant drops in stock prices. Domestic stocks, such as shopping malls and energy companies, are expected to fall by 20-30%, retailers by 60%, and banks by 15%. The Bradesco BBI reduced its recommendation for Brazilian stocks from overweight to neutral, citing the need for advances in economic and fiscal agendas and company results.
The Ibovespa may trigger a circuit breaker if it falls by 10% from the previous day's close, halting trading for 30 minutes, with further halts possible if losses deepen. The futures contract for the real in Chicago indicated a dollar exchange rate of R$ 5.50.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
