June 29, 2022
Locaweb (LWSA3), Magazine Luiza (MGLU3) and Americanas (AMER3) closed with a jump of 12% and topped Ibovespa's gains.  understand

Locaweb (LWSA3), Magazine Luiza (MGLU3) and Americanas (AMER3) closed with a jump of 12% and topped Ibovespa’s gains. understand

The shares of technology and retail companies appeared in the trading session this Wednesday (19), to appear among the main high percentages of the index. locweb (LWSA3), Louisa Stores (MGLU3) and American (AMER3) respectively by 12.65% (8.64 R$), 7.13% (6.31 R$) and 9.90% (33.20 R$).

However, the highs still do not erase the strong declines these companies have had in the year. Locaweb, for example, though today, is still accumulating a 32% drop in the 2022 trading sessions. And there’s not necessarily a sign of a change in these companies’ scenario.

Today’s rallies still do not represent a change in trend. We are still in a complex environment for these companies, which should continue to have high volatility,” explains Henrique Esteter, market specialist at Infomoney.

Recently, for example, Goldman Sachs revised its price target for all retailers, noting that The Brazilian consumer is under great pressure In the past six months – with inflation accelerating, along with the eventual reduction and cancellation of emergency aid, as well as the high unemployment rate.

Esteter also recalls that these companies have been in negative hierarchy around the world. Primarily, Brazilian companies have suffered from increased financial concerns in Brazil, as well as inflationary problems, since the middle of last year. In addition, abroad, these companies have also recorded a series of infections, with the Fomc filing.

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The market started pricing four rate hikes in the US, something that was unimaginable until recently. Views have changed a lot. Previously, the US rate hike was expected to start only in 2023 treasury bonds Ten years to surpass the 1.80% level, which is the highest level in 10 years,” the specialist comments.

The rescue fund weighs heavily on paper

In addition, refunds are also weighed down – Banco Inter, which was also one of the biggest hikes this Wednesday, rising 8.70% (R$22.50), was the sales target of “Monstro do Leblon”, for example. The Ponta Sul Fund reduced its stake in the bank and disposed of more than R$1 billion in the institution’s shares on the market.

“This whole context of pressure, which led to the redemption of papers, made the papers go down. Now the pressure eases a little bit and the stock market starts to go up, which makes room for these companies to start moving forward,” explains Esteter.

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Benefit and improved scenario bring convenience

This Wednesday, the Brazilian yield curve gives relief to the roles of tech and retail firms. Contracts From And a conglomerate, with the block due in January 2023, fell at the short end, for example, it fell seven basis points, to 12.02%, and that of January 2029, in the long term, fell 20 points, to 11.35%.

For these two groups, the effect factor is similar. Usually they are companies with a high growth rate and when we design a file evaluationA large part of it, Esteter explains, is in thinking about the future. “When there is an increase in the interest rate, there is an increase in the so-called discount rate,” says the expert.

Interest rates in the US turned lower after the earlier advance, while the movement in Brazil was also bearish. DI indexes fell sharply on Wednesday, after recent increases and also with signs of presidential candidate and ex-president Lula. He commented at a press conference that he did not see any problem in allying with Geraldo Alckmin to defeat Jair Bolsonaro.

Analysts said the announcement was seen by the market as a sign of the ultimate fiscal responsibility in the Labor government.

In addition, the dollar’s decline, with trading closing down 1.68%, at 5.46 Brazilian Real, eases concerns about inflation, and even reduces the rise in oil prices, which should put pressure on fuel prices.

“On a balmy day with high interest rates in Brazil and the US, these sectors tend to rise. However, this does not appear to be the scenario for this year,” comments Gustavo Cruz, strategist at RB Investimentos.

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