FX.co ★ Ibovespa Edges Up Amid Mixed Earnings

The Ibovespa saw a slight uptick, surpassing the 148,000 mark on Thursday. This movement occurred amidst a flurry of mixed corporate earnings reports. Notably, Ambev shares surged almost 4%, buoyed by the announcement of a Q3 net profit of R$4.86 billion, marking a 36.4% increase compared to the same period last year. Meanwhile, Multiplan's stock gained 0.8% in anticipation of promising revenue figures, bolstered by their recent unveiling of two expansion initiatives totaling R$65 million at Barra Shopping and BH Shopping. In contrast, Bradesco saw a decline of over 3%, despite an 18.8% rise in recurring net profit, as the outcome didn't meet the market's bullish predictions. Analysts at JPMorgan highlighted that the market had expected a profit closer to R$6.5 billion, but noted that increased "other expenses" and supplementary labor provisions diminished otherwise robust pre-tax earnings. Additionally, Gerdau, which is scheduled to announce its earnings later, experienced a dip of 1.1%.