Ibovespa Futures Gain as Brazil’s Retail Sales Unexpectedly Rise
Ibovespa futures climbed as a surprise increase in retail sales boosted the outlook for Brazilian stocks.
Online retailer B2W Cia. Digital may be active after a measure of quarterly earnings beat analysts’ estimates. Medical diagnostics company Diagnosticos da America SA (DASA3) may move as a shareholder announced it increased its stake in the company to 72 percent after purchasing shares in a tender offer.
Brazil’s retail sales increased 0.4 percent in January from a month earlier, according to data from the national statistics bureau. The median estimate among 40 economists surveyed by Bloomberg was for a decline of 0.3 percent.
The Ibovespa has tumbled 19 percent from a bull-market high on Oct. 22 as inflation exceeded policy makers’ target and concern mounted that higher government spending will lead to a reduction in the country’s credit rating.
Trading volume of stocks in Sao Paulo yesterday was 6.2 billion reais, compared with a daily average of 6.33 billion reais this year, according to data from the exchange.
To contact the editors responsible for this story: Brendan Walsh at email@example.com Dennis Fitzgerald, Richard Richtmyer