Brazilian equities finished lower on Monday, with the Bovespa closing the session down 0.91% in Sao Paulo. Sector pressure came principally from Financials, Consumption and Real Estate names, which collectively dragged the benchmark lower through the afternoon.
Notable movers
The session's top performers included Telefonica Brasil SA (BVMF:VIVT3), which advanced 2.85% - a gain of 1.16 points - to finish at 41.86. Marfrig Global Foods (BVMF:MBRF3) rose 2.50% or 0.47 points to close at 19.27, while Petroleo Brasileiro SA (BVMF:PETR3) added 2.03% or 0.83 points to end the day at 41.77.
On the downside, Vibra Energia SA (BVMF:VBBR3) led losses with a 4.81% drop, down 1.53 points to 30.30 at the close. Hapvida Participacoes e Investimentos (BVMF:HAPV3) fell 4.76% or 0.50 points to reach 10.00, and Banco Santander Brasil SA Unit (BVMF:SANB11) declined 4.66% or 1.71 points to 34.99.
Market breadth and extremes
Declining issues outnumbered advancing ones on the B3 exchange by 632 to 328, with 53 stocks finishing unchanged. Telefonica Brasil SA (BVMF:VIVT3) moved to a 52-week high, closing at 41.86 after the 2.85% gain. Conversely, Hapvida Participacoes e Investimentos (BVMF:HAPV3) closed at a 52-week low of 10.00 following its 4.76% decline.
Volatility, commodities and FX
The CBOE Brazil ETF Volatility index, which tracks implied volatility on Bovespa options, fell 4.10% to 32.98 by the close.
In commodities trading, Gold Futures for April delivery were quoted up 3.23% or 164.19 to $5,245.09 a troy ounce. Crude oil for April delivery slipped 0.11% or 0.07 to $66.41 a barrel, while the May US coffee C contract declined 2.61% or 7.45 to trade at $278.25.
FX moves were modest: USD/BRL decreased 0.12% to 5.17 and EUR/BRL also fell 0.12% to 6.09. The US Dollar Index Futures eased 0.10% to 97.63.
Context and closing
Overall, the session reflected selling pressure concentrated in Financials, Consumption and Real Estate names, while selected consumer and energy stocks outperformed. Volatility indicators showed a decline, and commodity prices and FX rates moved in mixed directions as the market closed.