FX.co ★ Ibovespa Fluctuates on Tax Uncertainty, Strong Jobs Data

The Ibovespa index experienced slight fluctuations, hovering around the 139,000 mark on Thursday. It lagged behind American stocks after Finance Minister Fernando Haddad emphasized the inevitability of increasing the Financial Transactions Tax, despite facing market opposition and a partial rollback. He cautioned about the risk of a public sector shutdown if the measure is completely revoked. Airline Azul, having dropped 70% year-on-year, might approach historic lows following its Chapter 15 bankruptcy filing in the US. On the economic front, the unemployment rate came in significantly lower than anticipated, corroborating the strong labor market indicated by the previous day’s CAGED report. Additionally, a US court decision obstructed former President Trump’s tariff measures aimed at lifting the current 10% tariffs on Brazil and other nations. In the meat production sector, JBS saw a 0.7% increase, while Minerva experienced a 1% decline. Petrobras and Embraer began the day on a downward trend, with Embraer showing slight declines. In the banking sector, performance varied as Itaú Unibanco posted gains, whereas Banco do Brasil registered a noticeable drop.