Brazilian stocks finished lower on Monday, with the Bovespa index declining 0.42% at the Sao Paulo close. Sector-level declines in Consumption, Financials and Real Estate were cited as principal contributors to the downward move.
Among individual names, Embraer SA (BVMF:EMBJ3) led gains on the session, rising 7.06% - an increase of 5.14 points - to finish at 77.93. Cury Construtora e Incorporadora S (BVMF:CURY3) added 3.02% or 0.97 points to close at 33.17, while Bradespar SA (BVMF:BRAP4) was up 2.72% or 0.61 points to end the day at 23.09.
On the downside, Prio SA (BVMF:PRIO3) was the weakest performer, sliding 6.91% or 4.24 points to 56.89 at the close. Petroreconcavo SA (BVMF:RECV3) lost 6.50% or 0.71 points to finish at 10.23, and Petroleo Brasileiro SA (BVMF:PETR3) declined 5.30% or 2.45 points to close at 43.88.
Market breadth on the B3 Stock Exchange showed more stocks advancing than falling, with 529 winners against 430 losers and 42 shares unchanged.
The CBOE Brazil ETF Volatility - a gauge of implied volatility for Bovespa options - moved lower by 2.19% to 31.31, indicating a retreat in option-implied volatility on the session.
Commodities traded with mixed results. Gold futures for August delivery rose 2.26% - up 95.96 - to $4,334.76 a troy ounce. Crude oil for July delivery fell 4.21% - a drop of 3.57 - to $81.31 a barrel. The September US coffee C contract advanced 2.25% or 5.70 to trade at $259.10.
Currency pairs tied to the Brazilian real were relatively stable: USD/BRL was effectively unchanged, moving 0.09% to 5.06, while EUR/BRL rose 0.63% to 5.89.
Session snapshot
- Bovespa close: -0.42%
- Advancers vs Decliners: 529 vs 430; 42 unchanged
- CBOE Brazil ETF Volatility: -2.19% to 31.31
- Notable movers: EMBJ3 +7.06%; PRIO3 -6.91%; PETR3 -5.30%
The session displayed a mix of outsized stock moves amid modest index weakness, and volatility as measured by the VXEWZ eased on the day. Commodity prices diverged, with gold and coffee recording gains while crude oil moved lower. Currency moves were contained, with the real trading little changed against the dollar.