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Ibovespa Futures Fluctuate as Commodity Gain Offsets Fed Concern

Ibovespa futures swung between gains and losses as higher commodity prices offset concern over when the U.S. Federal Reserve will curtail stimulus.

Hypermarcas SA, the maker of more than 190 consumer products, may move after announcing the sale of assets related to the manufacturing of drugs to MSD Brazil for $31 million. Brookfield Incorporacoes SA may be active as the Sao Paulo-based newspaper Valor Economico reported the homebuilder plans to sell project stakes to trim debt.

Ibovespa futures contracts expiring this month declined 0.1 percent to 51,040 at 9:26 a.m. in Sao Paulo. The real weakened 0.2 percent to 2.3112 per U.S. dollar. The Bloomberg Base Metals 3-Month Price Commodity Index added 0.6 percent.

Investors are considering when the Fed, which meets next week, may reduce the pace of its monthly bond buying. U.S. congressional negotiators agreed yesterday to a budget deal that would reduce the deficit by $23 billion.

Brazil’s benchmark equity index entered a bull market Sept. 9 after rising 20 percent from this year’s low on July 3 through that day. The gauge is still down 26 percent in dollar terms this year, compared with a decline of 4.6 percent for the MSCI Emerging Markets Index of 21 developing nations’ equities.

Trading volume of stocks in Sao Paulo was 4.2 billion reais yesterday, compared with a daily average of 7.47 billion reais this year, according to data available from the exchange.

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