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

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Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

A 250-ton transformer traveled 1,929 km by road in India on a slow and planned journey that demonstrates how the power grid relies on giant loads, detours, and impossible routes for regular trucks.

The largest car carrier ship in the world will unload 7,200 BYD cars at the SC Port in June, but before that, an Italian ship will arrive this Tuesday with another 4,500 vehicles, totaling 11,700 cars, 150 workers, and a 24-hour non-stop operation at the Port of Itajaí.

African country launched a $145 million project to rehabilitate 35 dams and drill deep wells seeking water stored for millennia beneath the desert, a plan that Captain Ibrahim Traoré’s government presents as a path to the country’s water sovereignty.

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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

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

A 250-ton transformer traveled 1,929 km by road in India on a slow and planned journey that demonstrates how the power grid relies on giant loads, detours, and impossible routes for regular trucks.

Farmer drills well in Ceará in search of water, accidentally finds crude oil and sees million-dollar discovery hindered by a rule that completely changes the future of the site.

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The largest car carrier ship in the world will unload 7,200 BYD cars at the SC Port in June, but before that, an Italian ship will arrive this Tuesday with another 4,500 vehicles, totaling 11,700 cars, 150 workers, and a 24-hour non-stop operation at the Port of Itajaí.

African country launched a $145 million project to rehabilitate 35 dams and drill deep wells seeking water stored for millennia beneath the desert, a plan that Captain Ibrahim Traoré’s government presents as a path to the country’s water sovereignty.

A 400-meter colossus powered by natural gas has just set sail from Shanghai to Europe, carrying over 24,000 containers. It is the world’s largest dual-fuel container ship and can cross the planet without refueling even once.

The largest highway concession company in Brazil already belongs to an Italian group, and now the railway sector may be next to receive billions in investments from Italy amid the progress of the Mercosur and European Union agreement.

A new study overturns the central idea we learned about planets and suggests that Earth is the exception rather than the rule; most rocky worlds in the galaxy may not have a core or mantle, just a single turbulent fluid extending to the center.