Brazil’s 2019 Earnings Growth May Top Emerging-Market Peers
People pass Brazilian flags flying above a kiosk on Ipanema Beach in Rio de Janeiro.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
One of the main drivers of Brazil’s monster rally this year should continue at full steam: earnings growth.
Brazil’s Ibovespa index has advanced over 15 percent so far this year, one of the best performers among main global benchmarks, as corporate results shined amid record low interest rates and subdued inflation. In the third quarter, earnings before interest, tax, depreciation and amortization grew 27 percent for Ibovespa listed companies, according to Banco Santander Brasil SA.