Brazil’s Ibovespa closed in the red for the first session in five and retreated from a high since January 24th in a volatile session, as fiscal uncertainty extended. On the domestic side, Economy Minister Paulo Guedes said that Brazil's government may consider new economic measures if needed, although he considers mass vaccination a cheaper option. On the data front, Brazil’s current account balance shifted to a mild surplus in November of 2020 compared to a deficit a year ago, although below market estimates. On the pandemic side, over 1000 daily COVID-19 deaths were recorded for the first time in over three months. During the week, the Ibovespa gained 3%.
Historically, the Brazil Stock Market (BOVESPA) reached an all time high of 119593.10 in January of 2020. Brazil Stock Market (BOVESPA) - data, forecasts, historical chart - was last updated on December of 2020.
The Brazil Stock Market (BOVESPA) is expected to trade at 114801.19 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 104642.42 in 12 months time.