Brazil Stocks Rise at Market Close; Bovespa Up 1.20%

Brazilian stocks saw an uptick following the market’s close on Tuesday, primarily driven by gains in various sectors.

At the end of trading in Sao Paulo, the main index registered a rise of 1.20%.

Leading the pack of gainers was Companhia Siderurgica Nacional, which climbed 9.39%, or 1.04 points, finishing at 12.12. 3R Petroleum Oleo E Gas also performed strongly, increasing by 8.72%, or 1.56 points, to reach 19.46. Similarly, Usinas Siderurgicas de Minas Gerais SA (USIMINAS Pref) rose by 7.68%, or 0.43 points, closing at 6.03.

On the downside, the worst performers included Azul SA Pref, which dropped 5.04%, or 0.27 points, down to 5.09. Companhia Brasileira De Distribuica fell 1.71%, or 0.05 points, ending at 2.88, while Auren Energia SA decreased by 1.23%, or 0.13 points, closing at 10.47.

Declining stocks outnumbered advancing stocks on the B3 Stock Exchange, with 497 declines against 430 advances, and 54 stocks remaining unchanged.

Auren Energia SA’s shares hit a 52-week low, dropping 1.23% to 10.47.

The volatility index, which tracks the implied volatility of Bovespa options, rose by 2.79% to 27.64.

In commodities, gold futures for December delivery increased by 1.34%, or 35.65, reaching $2,688.15 per troy ounce. Crude oil for November delivery also saw a rise of 1.65%, or 1.16, hitting $71.53 per barrel, while December US coffee C contract increased by 1.04%, or 2.75, to trade at $266.40.

In the currency market, the USD/BRL exchange rate fell by 1.36% to 5.46, and the EUR/BRL rate decreased by 0.79% to 6.10.

The US Dollar Index Futures declined by 0.50% to reach 100.06.