Market close
Brazilian stocks finished the trading day lower on Friday. At the close in Sao Paulo, the Bovespa fell 0.77% to register a new 3-months low, with the Basic Materials, Real Estate and Electric Power sectors among the primary drags on the index.
Top and bottom performers
The session's strongest performers on the Bovespa included C A Modas SA (BVMF:CEAB3), which gained 3.84% or 0.42 points to finish at 11.42. Aerospace manufacturer Embraer SA (BVMF:EMBJ3) added 3.82% or 2.66 points to close at 73.00, and Minerva SA/Brazil (BVMF:BEEF3) rose 2.79% or 0.10 points to end the day at 3.69.
On the downside, Companhia Siderurgica Nacional (BVMF:CSNA3) led declines, falling 10.18% or 0.68 points to trade at 6.03 at the close. Braskem SA (BVMF:BRKM5) dropped 6.89% or 0.65 points to finish at 8.88, while Companhia de Saneamento de Minas Gerais Copasa MG (BVMF:CSMG3) was down 5.25% or 3.15 points to 56.85.
Market breadth and volatility
Declining issues outnumbered advancing ones on the B3 Stock Exchange by 502 to 476, with 39 names unchanged. The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, moved lower by 0.25% to 32.52.
Commodities and currencies
Commodities trading showed pronounced moves during the session. Gold Futures for August delivery was down 3.49% or 157.05 to $4,347.95 a troy ounce. Crude oil for delivery in July declined 2.87% or 2.67 to $90.37 a barrel. The July US coffee C contract fell 0.20% or 0.50 to trade at $246.65.
On the currency front, USD/BRL was up 1.97% to 5.16 while EUR/BRL rose 1.49% to 5.97. The US Dollar Index Futures was up 0.66% at 100.04.
Implications
The session featured notable dispersion in individual stock performance, with a handful of names posting gains while a larger group declined, contributing to the Bovespa's retreat. Sector-level weakness in Basic Materials, Real Estate and Electric Power corresponded with several of the larger stock drops recorded during the day.