Brazil · Markets
The Big Three
Steel torched the tape while Vale hogged the money CSNA3 surged +4.3% and USIM5 +2.5% on a turning steel cycle, yet it was VALE3 (+0.8%) that led the board with $119m of turnover — the money and the momentum sat in different names.
A one-month high that is still 12.4% below the peak The Ibovespa closed at 174,070, up 0.74%, its highest in a month — but it remains 12.4% under its 52-week high of 198,657, a rally with plenty of runway left.
The real held the line, not the rally USD/BRL eased 0.67% to 5.1682, sitting 7.5% below its 52-week high — the 14.25% Selic keeps the currency well-bid even as the dollar globally stayed soft.
