Ibovespa Futures Decline Before Brazil’s Quarterly GDP ReportDenyse Godoy
Ibovespa futures fell as investors await a report tomorrow that may show Latin America’s largest economy contracted in the second quarter.
Miner Vale SA may mover as iron ore prices slid. Plane maker Embraer SA may be active after Japan Airlines Co. agreed to add as many as 27 jets to its fleet.
Ibovespa futures contracts due in October dropped 0.7 percent to 61,315 at 9:22 a.m. in Sao Paulo. Brazil’s benchmark equity index jumped to the highest level since January 2013 on speculation that President Dilma Rousseff will lose her re-election bid amid faltering economic growth.
Brazil’s gross domestic product contracted 0.6 percent in the second quarter from a year earlier, according to the median estimate of economists surveyed by Bloomberg. GDP grew 0.2 percent in the first three months of the year, half of the pace of the expansion recorded in the previous quarter.
Trading volume of equities in Sao Paulo was 10.8 billion reais yesterday, according to the exchange. That compares with a daily average of 6.59 billion reais this year.