Ibovespa Hits New Record and Brazil Rises in Ranking of the World’s Largest Economies: Check Out Today’s Market Updates.

Written by Paulo Nogueira

Published on 20/12/2023 at 10:17

Promulgação da reforma tributária, votação da MP da subvenção do ICMS pelo Senado e divulgação IBC-Br de outubro também entram no radar dos investidores – Todos os direitos: MoneyTimes

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Tax Reform, Vote on the MP for ICMS Subsidy, and Disclosure of October IBC-Br Come into Investors’ Radar.

The Ibovespa continues to rise, renewing its historical closing record in three of the last four trading sessions. Yesterday, an increase of 0.59% brought the main index of the Brazilian stock market to 131,850 points. The end-of-year rally coincides with a series of good news. Brazil climbed two positions in the ranking of the world’s largest economies, according to the International Monetary Fund. The country left behind Canada and Russia and returned to ninth place among the largest GDPs on the planet, already appearing in Italy’s rearview mirror. At the same time, the approval of the first tax reform in decades motivated the credit rating agency S&P to upgrade Brazil’s rating, which is now only two notches below the coveted investment grade. The tax reform was promulgated today in a solemn session of Congress. Still in Brasília, after the approval of the LDO yesterday, today’s economic agenda brings the vote on the MP for ICMS subsidy in the Senate.

Meanwhile, a weaker agenda abroad momentarily interrupts the rally of risk assets also observed in international markets in recent weeks. Back in Brazil, the stock market faces challenges with the vote on the MP for ICMS subsidy and the revenue figures for November being released today. These results have great potential to define the course of business at a time when the tightening of liquidity is already showing up. The October IBC-Br and the revenue figures for November will be released today and have great potential to define the course of business at a time when the tightening of liquidity is already showing up.

Ibovespa Hits Historic Record

The Brazilian financial market had a day of euphoria with the Ibovespa hitting a new historic record. The Brazilian stock market closed up 2.5%, boosted by good news in the domestic economic scenario and by the expectation of progress in the tax reform. The Ibovespa reached 134,000 points, reinforcing Brazil’s position in the ranking of largest economies in the world. The news excited local investors and attracted attention from foreigners, who returned to bet on the Brazilian stock market. Additionally, the IBC-Br, an index that serves as a preview of GDP, also showed positive results, indicating a solid recovery of the economy. However, the fiscal deficit and credit rating still raise concerns, showing that not everything is rosy on the horizon. Even with the challenges, the Ibovespa continues to attract investors, showcasing the strength of the Brazilian stock market amid the turbulence of international markets.

ARTICLE CONTINUES BELOW

Ibovespa Hits New Record and Brazil Rises in Ranking of the World’s Largest Economies: Check Out Today’s Market Updates.

Tax Reform, Vote on the MP for ICMS Subsidy, and Disclosure of October IBC-Br Come into Investors’ Radar.

Ibovespa Hits Historic Record

The Soviet Union spent 22 years drilling into the Earth’s crust and reached a depth of 12,262 meters — they found water where it was thought impossible, hydrogen bubbling from the rock, granite that is 2.7 billion years old, and temperatures of 180 degrees that melted the drill bits.

Egypt wants to draw 10 million cubic meters of water from the Nile per day into the desert, irrigate a new agricultural frontier, and build a city where there is currently only sand.

Norway is drilling 27 kilometers of rock 392 meters below the bottom of a fjord to build the world’s largest and deepest underwater road tunnel — when completed, a 21-hour journey will be reduced to 10.

An astronaut spent 340 days in space while his twin brother stayed on Earth, and NASA found a “rejuvenating” effect, genes, microbiome, cognition, and immune system that revealed the biological cost of living outside the planet.

Xiaomi launches new smart stove with titanium sensor and automatic shutdown that detects an open flame without supervision.

China has just successfully tested the world’s first ground effect maritime vehicle, a craft that flies up to 6 meters above the water at 200 km/h, uses quantum technology and 6G communication, and can rescue patients in the middle of the ocean.

An engine that consumes 40% less gasoline than the average new car already exists and runs on 100% renewable fuel that costs only 10 cents more per liter at Repsol stations.

Starting in 2027, stores will only be able to sell refrigerators of categories A, B, and C, which are, on average, 17% more energy efficient, and the change promises to reduce almost 6 million tons of carbon dioxide by 2030.

CEO of a space company states that humans will live on the Moon within this decade and that the base will be an inflatable habitat with life support in a place where no one has set foot for over 50 years.

Brazilians can now pay with Pix abroad by scanning a QR Code in partner stores in the United States, Argentina, Portugal, France, Paraguay, and Chile, but the system charges a 3.5% IOF and does not yet work in all establishments.

Ibovespa Hits New Record and Brazil Rises in Ranking of the World’s Largest Economies: Check Out Today’s Market Updates.

Tax Reform, Vote on the MP for ICMS Subsidy, and Disclosure of October IBC-Br Come into Investors’ Radar.

Ibovespa Hits Historic Record

The Soviet Union spent 22 years drilling into the Earth’s crust and reached a depth of 12,262 meters — they found water where it was thought impossible, hydrogen bubbling from the rock, granite that is 2.7 billion years old, and temperatures of 180 degrees that melted the drill bits.

Egypt wants to draw 10 million cubic meters of water from the Nile per day into the desert, irrigate a new agricultural frontier, and build a city where there is currently only sand.

Norway is drilling 27 kilometers of rock 392 meters below the bottom of a fjord to build the world’s largest and deepest underwater road tunnel — when completed, a 21-hour journey will be reduced to 10.

An astronaut spent 340 days in space while his twin brother stayed on Earth, and NASA found a “rejuvenating” effect, genes, microbiome, cognition, and immune system that revealed the biological cost of living outside the planet.

Xiaomi launches new smart stove with titanium sensor and automatic shutdown that detects an open flame without supervision.

China has just successfully tested the world’s first ground effect maritime vehicle, a craft that flies up to 6 meters above the water at 200 km/h, uses quantum technology and 6G communication, and can rescue patients in the middle of the ocean.

The electricity bill in the Northeast will increase by almost 10% starting this week — five states already have a scheduled date for the adjustment, and the director of ANEEL admits that the increase is double the inflation.

A Chinese company has just delivered its 10,000th humanoid robot — and now wants to place 100,000 in factories worldwide by the end of the year, while Tesla, Boston Dynamics, and the rest of the West have yet to move beyond prototypes.

Brazil has never generated so much clean energy — and has never charged so much for it: while solar and wind farms break records, the electricity bill rises by up to 23% and R$ 52 billion in charges are paid by 35 million families who don’t understand why electricity has become so expensive.

Japan announces release of more than 36 million barrels of oil in May

Oil falls amid expectations of US-Iran negotiations and Middle East truce

An engine that consumes 40% less gasoline than the average new car already exists and runs on 100% renewable fuel that costs only 10 cents more per liter at Repsol stations.

Starting in 2027, stores will only be able to sell refrigerators of categories A, B, and C, which are, on average, 17% more energy efficient, and the change promises to reduce almost 6 million tons of carbon dioxide by 2030.

CEO of a space company states that humans will live on the Moon within this decade and that the base will be an inflatable habitat with life support in a place where no one has set foot for over 50 years.

Brazilians can now pay with Pix abroad by scanning a QR Code in partner stores in the United States, Argentina, Portugal, France, Paraguay, and Chile, but the system charges a 3.5% IOF and does not yet work in all establishments.