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SÃO PAULO – The domestic environment dominated the stock market and allowed Ibovespa to start the week at new historical levels. The search for discounted badets led to a new wave of large stock valuations, while the most liquid and weighted stocks in the index followed the local mood.
The result of all this was the 0.87% increase in Ibovespa 's index. At the end of the day, a new intraday record and closing at 94,474 points.
The current BTG Pactual strategy report indicates that since the floor reached in June of last year, Ibovespa has already grown by 34% in the first half of the year, in a movement "apparent and high irresistible". The bank highlights the fact that only 13 out of 67 shares that make up the Ibovespa fall, while the "blue chips" have largely contributed to stock market performance.
"Even with the rebound, Ibovespa is still traded below the historical average – 12.3 times compared to 12.6 times the price / earnings ratio in 12 months [relação entre preço da ação e lucro por ação projetado]," badysts said. from BTG, Carlos Sequeira and Bernardo Teixeira, in a report.
Still according to the bank. With non-administrative tax reforms, the Ibovespa can easily operate with a positive standard deviation compared to the historical average, which means an operating level of 111,000 points – compared to the current level, it is safe. is a potential
The positive expectations of the new government have led the stock market to rise today, as well as the perception that valuations [avaliação de preço das ações] of various badets are at a low level . This explains gains such as Via Varejo ON (6.87%), the strong point of the Ibovespa today and far behind its competitors in the sector, such as B2W (1.15%) and Luiza Magazine (0.79%). %).
Operational snapshots already published by some companies also encouraged investors to rely more heavily on fourth-quarter financial results and 2019 companies.
Cyrela (1.81%), for example, reported 2 $ 7 billion in fourth-quarter launches in 2018, more than double that of the same period in 2017 – BTG Pactual called the data "impressive", while Credit Suisse raised the target share price from the company at R $ 18.50. Log (4.08%) and GPA (1.40%) also reported their operating data in recent days and have since posted a positive performance.
Against a backdrop of investor optimism regarding the local outlook, (0.74%), Bradesco PN (1.18%), Bradesco ON (0.11%) and Banco do Brasil ON (2, 32%). Sabesp ON (5.34%) also reacted to the signals issued by São Paulo Treasury Secretary Henrique Meirelles regarding the conclusion of this year's capitalization or privatization. The newspapers managed to beat the highest historical value of the day, at R $ 43.13.
The tone of increased caution abroad was really noticeable only in the shares of companies related to the commodities sector. Globally, these are companies that depend on the Chinese economy, which released lower-than-expected export and import data in December. In response, Usiminas PNA (-3.05%) and Gerdau ON (-0.13%) yielded. In the case of the Minas Gerais steel mill, the additional pressure came from the recommended reduction of Itaú BBA, from the purchase to the neutral.
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