Asian markets closed higher on Tuesday morning, with Hong Kong-listed Alibaba shares surging more than 11% after the company announced an increase in its share buyback program from $15 billion to $25 billion. Hong Kong’s Hang Seng led gains among the region’s major markets, rising 3.15% to 21,889.28.
US and European stock index futures also rose in today’s session as investors continue to monitor the stock exchanges war in ukraine and economic developments in the United States.
Investors watched the market’s reaction to US Federal Reserve Chairman Jerome Powell’s comments, promising to crack down on inflation.
Yesterday (21st) Fed Chair Powell said inflation was “too high,” with the central bank set to “take the necessary steps to ensure that price stability returns.”
“In particular, if we conclude that it is appropriate to act more aggressively, raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so,” Powell said.
The situation in Ukraine is still on the radar because the ongoing peace talks between Moscow and Kiev are not moving forward. On Monday, Ukraine refused to hand over the port city of Mariupol to Russian forces after an ultimatum from Moscow.
President Volodymyr Zelensky Eurovision News said the ultimatums would not work because the imprisoned Ukrainians “will fight to the end”.
Additionally, markets are also watching the Omicron variant as it spreads across Europe, along with one of the worst Covid-19 outbreaks in China since 2020.
In Brazil, investors are following the release of the Copom Minutes held last week and when Raising the interest rate by one percentage point to 11.75%.. Copom reiterated that she expects another amendment of the same size for its next meeting.
The document indicated that taking into account the greater weight attributed to the scenario with the alternative hypothesis of oil, inflation expectations are higher than the upper limit of the target tolerance range for 2022 and close to the target for 2023.
Roberto Campos Neto, President of BC, participates in the opening of the Financial and Technological Innovation Lab event – LIFT Day 2022, at 9:30 a.m. (Brasilia time).
Balance sheet season continues in full swing, with results released from Copel and Vibra, after markets close.
Check out more highlights:
1. Global Scholarships
we
US futures were trading slightly higher on Tuesday morning after Federal Reserve Chairman Jerome Powell said the central bank was open to raising interest rates to combat rising inflation.
The previous session was choppy as Powell pledged to take the “necessary steps” to curb inflation less than a week after the agency raised interest rates for the first time since 2018. Powell said “inflation is very high” and added that rates could increase by more than 25 basis points approved. them in advance if necessary.
Watch the performance of futures markets:
- Dow Jones Contracts (USA), +0.37%
- S&P 500 futures contract (US), +0.33%
- Nasdaq Futures (US), +0.44%
Asia
Asian markets closed on positive ground, with the Hong Kong Hang Seng Index up, up 3.15% to 21,889.28, reflecting Alibaba’s appreciation of more than 11%.
Meanwhile, shares of Hong Kong-based China Eastern Airlines fell 2.55% after the crash of the airline’s Boeing 737 passenger plane in southern China on Monday.
- Shanghai SE (China) + 0.19%
- Nikkei (Japan), +1.48%
- Hang Seng Index (Hong Kong), +3.15%
- Kospi (South Korea) + 0.89%
Europe
European markets are rebounding as investors continue to monitor the war in Ukraine amid failed attempts at talks between Moscow and Kiev and with an eye on corporate data.
- FTSE 100 (UK), +0.63%
- Dax (Germany), +0.84%
- CAC 40 (France), +0.63%
- FTSE MIB (Italy), +0.93%
goods
Oil prices are running slightly lower, after an increase of more than 7% the day before, when some members of the European Union considered a possible embargo on Russian oil, and attacks on Saudi facilities rattled the market.
EU foreign ministers are divided over whether to join the United States in imposing sanctions on Russian oil, with some countries, including Germany, arguing that the bloc relies too heavily on Russian fossil fuels.
- West Texas Intermediate crude, down -0.73% at $111.30 a barrel
- Brent crude, down -0.17% to $115.42 a barrel
- Iron ore traded on the Dalian Stock Exchange fell 3.62% to 799 yuan, equivalent to $125.61
Bitcoin
- Bitcoin, +16% to $42,505.88 (24 hours ago)
2. Schedule
This morning released the minutes of the last meeting of the Monetary Policy Committee (Copom), a document long awaited by the market.
The document indicated that taking into account the greater weight attributed to the scenario with the alternative hypothesis of oil, inflation expectations are higher than the upper limit of the target tolerance range for 2022 and close to the target for 2023.
The publication also highlighted that “consumer inflation remains elevated, with a spike spread across several components, and more steady than expected. The rise in industrial goods prices has not subsided and is expected to continue in the short term, while services inflation accelerated further.”
Brazil
8:00 am: Meeting minutes
10:30 am: National Treasury Bond Auction
Euro-zone
10:15 am: ECB President Christine Lagarde speaks at the BIS event
United States of America
11 a.m.: Richmond Federal Industrial Monthly Survey
11:30 a.m.: New York Fed President John Williams’ speech
3:00 pm: Speeches by Mary Daly, Chair of the Federal Reserve Board of San Francisco
17:30: Change in Oil Inventories – API
3. The government sets a zero import tax on ethanol and six other products by December
The Ministry of Economy announced yesterday (21) This brings the import tax rate to zero for six items in the Brazilian consumer basket – Chosen from among those most weighted in the INPC, an inflation index that tracks price changes for low-income households – as well as ethanol.
The targets are the products in the main basket: ground coffee, margarine, cheese, pasta, soy oil, sugar. According to the ministry, the reduction was due to the inclusion of these products in Mercosur’s List of Common External Tariff Exceptions (LETEC) and will remain in effect until December 31 this year.
Quoted from Guedes’ Secretary of the Petrobras Presidency (PETR3;PETR4)
The fuel price crisis and pressure to shore up treasury resources intensified tensions between the Ministers of Mines and Energy, Pinto Albuquerque, and the Economy, Paolo Guedes. The issue of the moment is to appear behind the scenes for President Jair Bolsonaro’s appointment of the name Special Secretary for Democracy, Administration and Digital Government, Caio Pais de Andrade, to replace Joaquim Silva y Luna in charge of Petrobras, according to the broadcast.
Tokyo Stock Exchange Expands Its War Against Election “Fake News”
The Supreme Court (TSE) has expanded the functions of its Cybersecurity Committee. From now on, the collegiate body headed by Minister Alexandre de Moraes will also have the task of combating “fake news” against electronic voting machines and the electoral system.
Now, according to the TSE law published last Thursday (17), the commission will aim to “monitor, prepare studies and implement measures to combat the mass dissemination of false information on social networks, with the aim of causing harm by exposing the risk of harm to others. The fairness and confidence of the electoral system.” In addition to Moraes, who will chair the Supreme Electoral Tribunal from August, the Inspector General of Electoral Justice, Minister Mauro Campbell, is also part of the group, as well as Popular Front delegate Disney Rossetti, who serves as a special advisor for corporate security in the cut.
Bolsonaro indicates that Braga Neto will be vice president in the October elections
President Jair Bolsonaro gave advice yesterday (21) on who would be the running mate on his ticket. He stated that the character is from Belo Horizonte, studied at a military college and is on the list of nine ministers who will leave the government until April 2 – the deadline for incompatibility that must be followed by those who want to run, depending on the position.
The most frequently quoted name is that of the Secretary of Defense, Walter Braga Neto, an Army general who was born in Belo Horizonte.
4. Covid
And last Monday (21), Brazil recorded 102 deaths and 14,543 cases of Corona virus within 24 hours, according to information from the Media Union, at 8 pm.
The 7-day moving average of deaths from Covid in Brazil is 291, down 37% compared to the level of 14 days before that.
The seven-day moving average of new cases was 37,093, which is a 23% decrease from the 14-day level before that.
It reached 159,207,220 people fully vaccinated against Covid in Brazil, equivalent to 74.11% of the population.
A total of 175,080,335 people received at least the first dose of vaccines, representing 81.5% of the population.
A booster dose was administered to 73,218,171 people, or 34.08% of the population.
5. Corporate radar
Copel (CPLE6), Even (EVEN3), Melnick (MELK3), Petrorecôncavo (RECV3), Positivo (POSI3), Vibra Energia (VBRR3), Track & Field (TFCO4) and Westwing (WEST3) release 4Q21 results after the close of market.
JBS (JBSS3)
JBS (JBSS3) Recorded net income of R$ 6.473 billion in the fourth quarter of 2021 (Q4 of 21)an amount that is 61% higher than the amount recorded at the same point in 2020. The result was higher than the market consensus that had expected a net income of R$5.65 billion.
united (LCAM3 camera)
United (LCAM3) It recorded a net income of R$ 276.9 million in the fourth quarter of 2021 (Q4 21), representing a growth of 40.5% compared to the same quarter of 2020.
The car rental company more than doubled its net income in 2021, reaching a record result of more than R$1 billion, an increase of 153% over 2020, reflecting the strong result in the rental sectors and the good performance of the used car rental operation.
iniva (ENEV3)
iniva It achieved a net income of R$489.4 million in the fourth quarter of 2021down 28.7% compared to the same period last year.
Net operating income in the first quarter was R$1.68 billion, an increase of 37.5% over the same months of 2020.
Bradesco (BBDC4)
Bradesco Corporation (BBDC4) informed that, at the Extraordinary and Ordinary General Assembly meeting on the 10th, a capital increase of R$ 4 billion, with bonus shares, was approved by capitalizing part of the account balance “Profit Reserves – Statutory Reserve”. As a result, the bank’s capital will increase from R$ 83.1 billion to R$ 87 billion.
Petrobras has informed that it has received a preferred shareholder nomination of candidates for the Financial Council, which will be elected at the annual general meeting on April 13, 2022.
Investment funds managed by Banco Clássico, Alaska Investimentos, Claritas Administração de Recursos and ESH Capital have appointed Patrícia Valente Stierli as a full member of the Board of Directors. Antônio Emílio Bastos de Aguiar Freire has been appointed as an alternate member.
odontoprev (ODPV3)
The Board of Directors of Odontoprev approved the distribution of interest on equity (JCP) in the amount of R$ 16.3 million, equivalent to R$ 0.0319183760 per share.
Credit will be provided on July 6, 2020, based on contribution status on March 24 this year.
Itisa (ITSA4)
Itaúsa’s Board of Directors decided on Monday (21) to announce in advance, due to the mandatory 2022 dividend, an equity interest in the amount of R$ 0.11337 per share, which will be paid until November 29, 2023, based on the final contribution position on March 24, 2022.
Looking for a good buying opportunity? XP استراتيجي strategist reveals 6 cheap stocks to buy today.
Related
“Music fanatic. Very humble explorer. Analyst. Travel fanatic. Extreme television teacher. Gamer.”
More Stories
Do you use a Petrobras CNG truck? Understand the picture that became a meme
New strategy to get rid of telemarketing calls; Learn it!
Itaú will launch receivable tokens in 2022