Everything you need to know about Brazil investing
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Brazilian Economy shrinks 0.51% in May, according to the Central Bank
The Brazilian economy has not confirmed the brief improvement in April. The Economic Activity Index Central Bank (IBC-Br) fell 0.51% in May, after growing 0.07% in April (revised), which was the first increase in 15 months. In the year, the decline was a significant 5.79%. In the 12 months ending in May, the IBC-Br indicates…
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EWZ: Ibovespa has its best semester since 2009 and US$ drops 18.6% versus the Brazilian Real
Brazilian’s most traded stock ETF in the US, EWZ soared 46.5% in the same 6 months: In the beginning of the year, the perspective for the Brazilian market was not good with the country in recession and inflation sky rocketing. However, in the middle of February, the inflection started fueled by a global recover in…
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Brazilian Retail Sales up 0.5% MoM in April
Brazilian retail sales volume in April increased 0.5% MoM but fell 6.7% YoY, both worse than market expectations, according to IBGE (Brazilian Institute for Geography and Statistics). Although in the monthly comparison, most of the sectors have recorded an increase, it was not enough to reverse the downwards trajectory, still visible in the annual comparison…
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Brazilian Steel Industry in Survival mode for the Foreseeable Future
The Brazilian steel industry has seem better days. If we look at the three stocks traded as ADRs in the NYSE, we can see the depth of their agony in the last ten years: Gerdau (NYSE:GGB): Companhia Siderúrgica Nacional – CSN (NYSE:SID): Usiminas (OTC:USNZY): In the 27th Brazilian Steel Congress, held by the Brazil Steel…
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CADE Approves Bradesco’s HSBC Brazil Acquisition with Restricticions
Brazilian anti-trust council (CADE) has approved the acquisition of HSBC Brazil by Bradesco with restrictions. One immediate consequence of the of the restrictions imposed by CADE is that Bradesco is definitely out of the dispute to acquire Citi in brazil, since no new acquisition will be allowed to the bank for 30 months. On top…
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What to Expect for Brazilian Interest Rate in 2016
Monetary Policy Committee (COPOM) has decided to keep the Brazilian interest rate benchmark in Brazil (SELIC) at 14.25% a year, unanimously. The central bank repeated the note issued with the previous decision, in which it says “we see advances in the inflation fighting but the still elevated cost of living and expectations are out of the target”.…
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Brazil mulls emergency loan to Rio de Janeiro ahead of Olympics
By Alonso Soto and Marcela Ayres BRASILIA (Reuters) – Brazil is considering an emergency loan to the cash-strapped state of Rio de Janeiro as it prepares to host the Olympic Games in less than two months, according to two senior government officials familiar with the situation. The loan would be guaranteed by the state’s participation…
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Brazil taps ex-Bunge boss Parente as Petrobras CEO, replaces Bendine
Brazil’s interim President Michel Temer named Pedro Parente chief executive officer of state-led oil company Petroleo Brasileiro SA on Thursday as his government tries to kick-start a shrinking economy and shore up the debt-laden oil producer.Parente, an engineer, former Bunge Ltd executive and one-time chief of staff to former President Fernando Henrique Cardoso, replaces Aldemir…
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Brazil’s president Dilma Rousseff is impeached
• The impeachment vote is still going on in the country’s lower house, but the ruling Workers Party has conceded defeat, reports Reuters. At the moment, of 412 votes cast, 307 have voted to impeach President Rousseff, and 101 have voted against. A total of 344 are needed to send the process over to the…
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Blackstone denies seeking to acquire Brazil mall operator
Investment firm Blackstone Group LP (BX.N) on Sunday said it is not considering an acquisition of Brazilian shopping mall operator BR Malls Participacoes SA (BRML3.SA), denying a report published early in the day by newspaper O Globo.”We are not actively engaged in acquisition discussions for BR Malls,” Blackstone said in an emailed statement. The Brazilian…
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