Ibovespa falls on Wednesday, 25, facing tax expectations and amid the emptied agenda of indicators in Brazil and abroad.
At 11:33 am (Brasília time), the index yielded 0.61%at 136,302.18 points, at least 135,961.86 points (-0.88%) and maximum opening at 137,162.54 points (zero variation). Oil rose around 1.40% and iron ore closed down 0.43% in Dalian. OK (Voucher3) fell 1.10% and Petrobras (Petr3;Petr4) rose 0.29% (PN) and 0.41% (ON).
The President of the Chamber of Deputies, Hugo Motta (Republicans-PB), guided this Wednesday the vote of the Legislative Decree Project (PDL), revocating the Lula government decree with the increase in the financial operations tax (IOF).
Motta also scheduled for Wednesday the bill that exempts income tax who earns up to two minimum wages.
“This expectation regarding the vote generates some caution, we do not know what will come, if it will be something hazy, even with the mayor defending spending cut,” says Rubens Cittadin, Manchester Investimentos Variable Income Operator.
Investors are also still monitoring the ceasefire between Israel and Iran, while looking at the second day of Federal Reserve President (Fed, the US Central Bank), Jerome Powell in the US Congress. Yesterday, Powell reiterated the stance of “waiting to see” before the US BC cut interest again at a hearing in the House of Representatives, repeating this today.
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Yesterday, US bags closed up while Ibovespa ended 0.45%at 137,164.61 points after the minutes of the Monetary Policy Committee (Copom) reiterate the tough tone of last week’s statement.
A week ago, Selic was raised from 14.75% to 15% per year, and the Central Bank indicated high interest rates for a prolonged period, which was reinforced in the minutes. Copom also asked the fiscal and monetary policies to be “harmonious”.
Amid tax uncertainties, the agenda announced by Motta in X concentrates attention. Prior to this publication, the general expectation was that there was no voting in the House this week, due to the emptying of the house because of the June festivities in the Northeast, says LCA 4intelligence.
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Besides being surprising, he quotes the consultancy, it was a strange call, because it was made by a social network and late at night, around 11 pm. Of the four articles based, three interest the government, points out.
“Provisional measures and PL 2692. The exception is the PDL that overthrows the increase in IOF. It seems that the government and its leaders expected to have one or two weeks of deadline to reverse the position of most deputies in favor of PDL approval,” adds LCA 4intelligence.
Earlier, external data were released. Brazil had a deficit of US $ 2.93 billion in the current account in May, the largest for the month since 2022but below the market projection, which estimated a $ 3.10 billion break. Net entry of direct investments in the country (IDP) was US $ 3.66 billion in May.
