Ibovespa Market Update 8th October

​Despite IBOVESPA’s serious declines the past few months, in recent days, the Brazilian market has stabilized – maintaining three days on a zero-to-zero status: significantly increasing by 2% and closing at 112,833 points this Friday. 

Companies like Cielo, Banco Inter, and Eco Rodovias have evidently followed the market, skyrocketing their values. Cielo is the biggest payment system company in Latin America, providing credit and debit card operating services mostly in Brazil. CIEL3’ shares have had an astonishing 14.29% increase, in hopes to reverse its current yearly negative numbers.
 
Similarly, Banco Inter (BIDI11) has maintained its high numbers, with an expected 11% increase. This is likely due to their migration to ‘Inter Plataforma’, in Cayman Islands, meaning they will be now enlisted in the American market, Nasdaq.
 
EcoRodovias, a popular and well-developed Brazilian transport company has had a 9.16% boom. According to Ricardo França, an investment specialist, explains that this is because of ECOR3’s disclosure of their data in September, notifying the growth of traffic in the companies’ highways. However, similar to CIEL3, EcoRodovias must maintain these numbers to inverse yearly negative numbers, currently at a 28.05% loss.

By: Bruna Zarzur
Edited by: Anna Kissajikian