The Ibovespa plunged this Thursday (12) and ended with the worst daily performance in almost two years, according to data from Elos Ayta, with markets reflecting signs of more restrictive interest rates.
at 126,042 points, the strongest drop since January 3, 2023, when it ended with a decline of 3.06%.
Among the 86 shares that make up the Ibovespa portfolio, only Hapvida (HAPV3) registered an increase on the day, with an appreciation of 1.12%.
The performance was especially bad for stocks linked to consumption and retail, traditionally more exposed to rising interest rates.
Biggest drops of the day:
- Pão de Açúcar (PCAR3): -11.02%
- Petz (PETZ3): -10.55%
- Minerva (BEEF3): -9,62%
- Luiza Stores (MGLU3) -9.01%
- Carrefour (CRBF3): -8,59%
- Cogna (COGN3): -7.87%
- Yduqs (YDUQ3): -7.59%
- Nature (NTCO3): -7.18%
- Eztec (EZTC3): -7,03%
- CVC (CVCB3): -6,36%
In total, shareholders of the 322 listed companies lost R$133.2 billion in market value, reducing the total amount of companies from R$4.35 trillion to R$4.22 trillion.
Petrobras (PETR4) was a negative highlight, with a drop of R$31.8 billion in market value, alone accounting for almost 24% of the losses from the 10 biggest drops.
Rising interest rates
The negative result reflects the harsher tone of the Monetary Policy Committee (Copom) of the Central Bank (BC) the day before.
The , raising the basic rate to 12.25% per year, and signaled that it should maintain this pace in the next two meetings, in January and March 2025.
“This Copom stance reinforces the difficulty of monetary policy in anchoring inflation expectations, which in the words of the Committee, should only happen in the second quarter of 2026, if everything goes well”, explains Idean Alves, financial planner and market specialist of capital.
“This highlights the challenges faced by the Central Bank, and the moment of expensive credit in the country, which reduces business confidence and appetite for new investments in the real economy, thus generating less employment in income”.
According to the collegiate, the scenario has deteriorated since the last meeting, in November, with more factors for rising than falling inflation persisting.
As points that could bring the index up, the BC highlighted the de-anchoring of expectations, greater resilience in services inflation and the combination of external and internal economic policies that have an inflationary impact.
On the other hand, the Copom pointed out as factors that could bring inflation down a slowdown in global economic activity that is more pronounced than projected and if the impacts of monetary tightening on global disinflation prove to be stronger than expected.
