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(Petrobras Agency / Stéferson Faria)
SÃO PAULO – The market waits on Wednesday the effects of the speech made yesterday by Donald Trump before the US Congress, the data being discouraging in Europe, which leads to a fall in stocks here and a dip mainly for actions related to Commodities sector, such as Vale and Petrobras. The miner, by the way, declared force majeure for contracts for the sale of ore and pellets. Banks also recorded significant declines, particularly in the case of Itaú Unibanco (ITUB4), Bradesco (BBDC3, BBDC4) and Banco do Brasil (BBAS3).
Only two stocks, Suzano (SUZB3) and Braskem (BRKM5), which are exporters, record gains thanks to the rise in the dollar.
The results of Sanepar and ABC Brazil, three reviews of recommendations, also shake the market. Vale's actions are part of the declaration of force majeure and the negative scenario for global markets that followed Donald Trump's hostile speech to the US Congress.
Vale (VALE3)
19659007] Force Majeure – an instrument invoked when one of the parties can not comply with an agreement regarding an unforeseen event – declared by Vale occurs in a series of contracts for the sale of iron ore and badociated pellets after the suspension of production at the Brucutu mine – the company's second-largest mine – announced Monday 044.
Vale reiterated that it was not There was no technical basis or risk badessment that would justify the decision to suspend the operation and is in the process of adopting appropriate judicial measures.
On Monday, the miner reported that the estimated impact of the temporary shutdown of the Laranjeiras Dam at Brucutu Airport (Central Minas complex) is about 30 million tonnes of iron ore per year.
The company also announced its intention to increase its dry production to 70% by 2023, with the gradual reduction of use of dams in operations. Along with the increase in dry production, Vale has announced its intention to invest about 1.5 billion rand (about 390 million US dollars) in the implementation of stacking technology dried up.
O Globo reports that after the Brumadinho tragedy, the government should postpone the early renewal of the contract of two railways managed by Vale. The intent of the economic team is not to "contaminate" the concession renewal process, which expires in 2027, with the disaster. Today, Vale operates the Carajás Railroad and Vitoria-Minas Railroad Railways, whose contracts are concluded in eight years.
CSN (CSNA3)
CSN announced that the closure of the operations of the Casa de Pedra dam in Congonhas, in the state of Minas Gerais, was part of the measures already taken by its subsidiary, CSN Mineração , ongoing since 2016, aimed at the dry treatment of waste generated during the production process of the Casa de Pedra mine.
"The treatment of dry waste currently covers 40% of the volume of its residues and, until the end of 2019, CSN Mineração will treat 100% of dry residues and abandon the use of dams to eliminate residues ", says the company.
Petrobras (PETR3; PETR4)
Petrobras recorded losses as a result of the oil price, which fell as a result of the increase in the oil stock.
The company also declared to have signed a "unique and unprecedented" agreement in Brazil with the Federal Prosecution, as a result of the agreement signed with the Securities and Exchange Commission and the Ministry of Justice. US $ 682.6 million, corresponding to 80% of the value of the resolution reached with the DoJ and the SEC.
According to Petrobras, 50% of the resources will be converted into a fund managed by an independent foundation (to be created and managed by the MPF) for social investment in projects, initiatives and institutional development. appropriate entities, educational or not, which act in the direction of citizenship, public ethics, fight against corruption and other social issues.
The remaining 50% will be used by Petrobras to discharge any conviction of the company at the request of an investor or against remuneration. possible agreements.
Sanepar (SAPR11)
The sanitation company of the State of Paraná, Sanepar, achieved a net profit of 320 million R $ in the fourth quarter of 2018, or 107.5% by compared to the same period of the previous year. compared to the same period in 2017, while revenues increased by 7.1% compared to the last three months of 2017, reaching R1.1 billion. Operating income before depreciation and amortization (EBITDA) increased by 23%, 9% in the last quarter of the year, to R $ 475.7 million.
Sanepar's net profit increased 30.1% in 2018 to 892.5 million ds. Revenues were R $ 4.16 billion, up 7.6%.
Sanepar closed the fiscal year with a total of 3.14 million water connections, up 1.6%, while [4,9 milliards] "Sanepar announced a better-than-expected result, with business up 7.1% year-on-year due to better sales mix and provision reversal Management has still proposed to vote additional dividends At the next meeting we maintain our view that the main catalyst for this role is the transmission of the tariff revision and that the recent change of management due to the elections may help in the investment thesis ", say the Analsites.
ABC Brasil (ABCB4)
ABC Brasil reported recurring net income of $ 457.8 million in 2018, an increase of 5.7% over the annual comparison, when it had reported 433 million R $. In the fourth quarter, net income amounted to R $ 121.4 million, an increase of 9.8% over the last three months of 2017.
Total badets were increased by 13.8% year-on-year. (CRO) and Ecorodovias (ECOR3)
The shares of CCR and Ecorodovias recorded a significant decline in the profit movement after the recent peak reached with the São Paulo government's decision to renew the road contract. At least four concessions expire until 2022, two of which CCR is a shareholder. ViaOeste, the Castello Branco / Raposo system, accounted for around 14% of the company's EBITDA (earnings before interest, taxes, depreciation and amortization) for the first nine months of 2018 and Renovias for around 2%.
B3 (B3SA3)
Itaú BBA raised the target price from $ 30 to R $ 37.50 for B3 shares, while maintaining a paper purchase recommendation.
"In summary, the operating data of recent months is encouraging and suggests strong earnings momentum.We anticipate an increase in recurring earnings per share of nearly 30% on an annual basis in 2019, then In addition, we expect a very active year in terms of supply on the primary market, which should stimulate trading in equities.Finally, the model has been adjusted to incorporate our latest macro scenario. , including a lower discount rate, "say badysts.
Other Recommendations
B2W (BTOW3) overrode JPMorgan's recommendation, with the target price increasing from R $ 35 to R $ 46. Bradi raised the target rate from R $ 35 to R $ 46. Oi (OIBR4) BBI, with an indicative price of R $ 1.80, which implies a 26% increase over the closing of Tuesday.
Duratex (DTEX3)
Duratex said Tuesday that it should make accounting adjustments that would make its fourth-quarter results extraordinarily negative.
net profit of R $ 296 million.
The effects will come from measures such as the temporary shutdown of wood panel activities in Botucatu (SP), the closure of the operation of electric showers in Tubarão (SC), and accounting adjustment of fixed badets intangible.
"These adjustments will have a cash flow effect of about R $ 30 million in the fourth quarter, with a positive annual impact estimated at R $ 40 million on the Company's recurring EBITDA amount. as of 2019 "manufacturer of wood panels and sanitary ware
Saraiva (SLED4)
According to Valor, Saraiva closed three other stores in one month and added a total of 82 points in January, according to a monthly report the company. Of this total, 30 are deportations. According to the retailer's bankruptcy plan, filed Monday night with the Securities and Exchange Commission (CVM), the total debt is $ 675 million. The network of bookstores intends to finish their debts in 2034.
(with the public agency and Bloomberg)
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