After the holiday in Brazil, markets digest the decision of the American monetary authority to raise interest rates and keep an eye on the effects of roadblocks in the country, as well as on the third quarter results of important companies like Petrobras (BVMF:PETR4), which reports its balance sheet on Thursday, March 3.

As expected, the Federal Open Market Committee (FOMC) announced on Wednesday, 2, the increase in the basic interest rate of the U.S. economy by 75 basis points for the fourth time in a row, from 3-3.25% to 3.75%-4%. This is the highest level since January 2008.

On the domestic scene, attention turned to the disruptions and damage from the blockades by truck drivers and supporters of President Jair Bolsonaro (PL). During the holiday, the president requested the release of the highways, but the interruptions continue, especially in Mato Grosso, Santa Catarina, Pará and Roraima. Only in the state of Santa Catarina, the government estimates daily losses of up to R$ 36.8 million in the swine and poultry sectors. The National Confederation of Trade in Goods, Services and Tourism (CNC) projects that the blockades may result in greater losses to the sector than those recorded in the demonstrations held in 2018, R$ 1.8 billion per day.

At 9:28 am, Ibovespa Futures was down 1.45% and the dollar was up 1.03%, at R$5.1962.

In the US, Nasdaq 100 futures retreated 0.99%, while S&P 500 and Dow Jones futures fell 0.72% and 0.95%, respectively.

News of the day

Renegotiation – Individual microentrepreneurs (MEIs) and micro and small companies enrolled in the Simples Nacional have a new deadline to renegotiate active debts with the Federal Government on December 30.

Budget – Negotiations continue to define the adjustment for the minimum wage. The Workers’ Party (PT) has signaled that it wants an increase taking into consideration the average growth of the Gross Domestic Product (GDP) over the previous five years. For 2023, the real increase would be between 1.3% and 1.4%, as reported by O Globo. The projection of the team that discusses next year’s budget foresees the need for a fiscal space of R$ 200 billion, aiming to guarantee the Brazil Aid at R$ 600 and the real increase of the minimum wage.

Commodities – The beginning of corn shipments to China is closer after China’s General Administration of Customs (GACC) published a list with 136 Brazilian establishments that would be authorized to export corn, according to Valor Econômico newspaper.
Corporate News

Banco Pan (BVMF:BPAN4) – On Thursday, March 3, the bank published its third quarter results, with adjusted net income of R$ 193 million, up 1% year-on-year. Compared to the 2Q22, the indicator fell 0.3%.

Natura (BVMF:NTCO3) – The cosmetics company sets up an ecosystem of startups for new processes and services, with the evaluation of 5.5 thousand companies in recent years through Natura Startups.

Vulcabras (BVMF:VULC3) – Announced the resignation of Flavio de Carvalho Bento from the position of Industrial Director. The functions will be performed by the current Supply Chain Director of the company, Rodrigo Miceli Piazer. In addition, it released its 3Q22 results, with an increase in recurring net income of 35.7% year-on-year.

Petrobras and Braskem (BVMF:BRKM5) – With the result of the elections, the sale of Petrobras’ stake in Braskem shows uncertainty, according to sources involved in the negotiation process, as reported by Valor.

Ambipar (BVMF:AMBP3) – To strengthen ESG projects, the Brazilian multinational announced the acquisition of a controlling stake in ViraSer Negócios de Impacto Ltda, through its direct subsidiary, Environmental ESG Participações,

Eneva (BVMF:ENEV3) – The president of the company, Pedro Zinner, announced that he will resign from his position, according to a company statement.

Suzano (BVMF:SUZB3) – Concluded the contracting of a new line aiming at financing equipment and services associated to the Cerrado Project. The financial cost was 4.63% per year and the total amortization period is 10 years, which should start in 2025.

Banco do Brasil (BVMF:BBAS3) – The BB president, Fausto Ribeiro, should be the main contact in the institution with the transition government, responsible for receiving demands from the teams involved, according to Estadão.

PetroRecôncavo (BVMF:RECV3) – Signed a contract for the sale of natural gas supply with Transportadora Associada de Gás (TAG).