Posted at 7:58
Stock exchanges, oil and bitcoin (7h57)
Germany (DAX): +0.54%
London (FTSE 100): +0.58%
China (Shanghai Comp.): +0.05% (trading session closed)
Japan (Nikkei 225): +0.01% (trading session closed)
Hong Kong (Hang Seng): +0.36% (trading session closed)
Brent oil: +1.11% ($83.5). Brent is a point of reference for Petrobras.
WTI Oil: +1.07% ($78.1)
Bitcoin futures: +3.53% ($18,237)
Iron ore
The most liquid iron ore futures contract traded on China’s Dalian Stock Exchange closed 1.36% higher at 856 yuan ($126.8). The listing could impact the shares of Brazilian Vale (VALE3), CSN (CSNA3) and CSN Mineração (CMIN3). This data was obtained from the link: http://www.dce.com.cn/DCE/Products/Industrial/Iron%20Ore/index.html
New York stock futures
As of 7:56 am on Wall Street, Dow Jones futures were down 0.01% and the S&P 500 futures were down 0.04%. Nasdaq futures fell 0.11%.
Inflation in the United States
The release of the US consumer inflation result could bring major volatility to equity markets this Thursday. The so-called December CPI will be presented at 10:30.
Americans on the radar
At the company level, the attention of analysts and investors turned to Americanas shares (AMER3), after the company posted a deficit of BRL 20 billion.
In the company’s view, it is currently not possible to determine all the impacts of these inconsistencies on the company’s income statement and balance sheet. To make matters worse, CEO Sergio Rial and head of investor relations André Covre, who took office on 2/1/2023, have announced their decision not to remain at the company. Rial was the company’s big bet for the future.
haddad package
This Thursday, at 2.30 pm, Finance Minister Fernando Haddad announces the new government’s first package of economic measures. These measures are already expected by the market.
corporate news
Rial resigns as CEO of Americanas (AMER3); company detects ‘inconsistencies’ in the accounting records
Americanas (AMER3) reported after the market close on Wednesday 11, that inconsistencies were found in the accounting records that reduce the supplier account made in previous years, including the year 2022.
“In a preliminary analysis, the company’s accounting department estimates the mismatch amounts to be in the order of BRL 20 billion as of the 9/30/2022 base date,” Americanas said in a fact material sent to the market.
The company estimates that the cash effect of these discrepancies is “insignificant”.
In the company’s view, it is currently not possible to determine all the impacts of these inconsistencies on the company’s income statement and balance sheet.
Among the inconsistencies mentioned, the accounting area has identified the existence of purchase financing transactions for amounts of the same order as above, in which the company is a debtor to financial entities and which are not adequately reflected in the suppliers account of the balance sheet dated 09/09 30/2022.
“The above estimates are subject to confirmations and adjustments following the completion of the preliminary activities and to be carried out by the independent auditors, following which it will be possible to correctly determine all the impacts that such inconsistencies will have on the financial statements”, explained Americanas .
The company also communicated that, in the light of these facts and the consequent change in management priorities, the Chief Executive Officer Sergio Rial and the Investor Relations Officer André Covre, who took office on 02/01/2023, communicated the decision not to remain in the company, with immediate effect.
The board of directors appointed João Guerra, an executive with a long career in the technology and human resources sectors, as chief executive officer and head of investor relations, and not previously involved in accounting or financial management, on an interim basis.
The board of directors also resolved to set up an independent committee charged with investigating the circumstances that led to the aforementioned accounting inconsistencies, which will have the necessary powers to carry out its work.
The reference shareholders of Americanas, present in the shareholding structure for more than 40 years, have communicated to the board of directors that they intend to continue to support the company, with Sergio Rial as advisor in this process, providing support in carrying out the work.
Fitch Confirms B3 “BB” Ratings; “stable” perspective.
Risk rating agency Fitch Ratings, one of the largest in the world, affirmed on Wednesday 11, the IDRs (Issuer Default Ratings – Issuer Default Ratings) in foreign and local currencies ‘BB’ of B3 (B3SA3).
At the same time, the agency confirmed the national long-term and short-term ratings “AAA(bra)” and “F1+(bra)” of B3. The perspective is “stable”.
According to Fitch, B3’s ratings are based on its “inherent creditworthiness” and are heavily influenced by its company profile and Brazilian operating environment.
“The B3 ratings also reflect its profitability, which is above peers, and its growing margins, despite the economic crises of recent years and moderate risk appetite, with a solid infrastructure for operational and counterparty risks “, underlines the agency.
Trígono Capital increases stake in Kepler Weber (KEPL3)
Trígono Capital increased its stake in Kepler Weber (KEPL3).
The information was revealed by Kepler on Wednesday the 11th.
Trígono increased its stake to 17,979,300 common shares issued by the company, or 20.01% of total shares.
Kepler Weber, parent company of the Kepler Weber group, is a leader in grain storage equipment and post-harvest solutions in Latin America.
Locaweb (LWSA3) informs about the capital increase
The board of directors of Locaweb (LWSA3) approved the capital increase following the exercise, by several beneficiaries, of their respective purchase options. The information was released on Wednesday 11.
No have been issued. 1,579,650 new ordinary shares, all registered, book-entry and without par value.
The capital increase amounted to R$ 3,495,810.50.
The company’s share capital increased to 3,010,432,439.18, divided into no. 594,090,098 ordinary shares.
The issue resulting from the capital increase will determine a dilution of 0.26660289%.
Fitch Confirms Bradesco’s ‘BB’ Rating; “stable” perspective.
Risk-rating agency Fitch, one of the world’s leading, said on Wednesday, Banco Bradesco’s Long-Term Issuer Default Ratings (IDRs) in foreign and local currencies ‘BB’ (BBDC4), as well as its National Rating in the long term ‘AAA(bra)’.
The ratings outlook is “stable”.
At the same time, the agency confirmed the Bank’s Viability Rating (RV) at ‘bb’.
According to Fitch, Bradesco’s virtual reality reflects its stable company profile, with diversified revenues and consistent performance throughout business cycles, even in times of economic crisis.
“The ratings also capture the bank’s conservative risk profile, funding base, strong liquidity, adequate asset quality and good capitalization,” the agency underlines.
BB Seguridade among Bank of America’s favorites
Faced with what it called “uncertainties in the macro environment and interest rates,” Bank of America revealed it was being more selective with non-bank financial institutions in Brazil.
In a report, the US bank indicated a preference for shares of BB Seguridade (BBSE3), Cielo (CIEL3) and B3 (B3SA3).
In a report, Bank of America’s analyst team estimates that BB Seguridade should benefit from more weight given to public banks in the new government.
It also highlights the insurer’s exposure to agribusiness and floating rate bonds.
The choice for Cielo is due to the combination of an attractive valuation and the prospect of solid results. The projection is for a net profit of BRL 2 billion in 2023, a growth of 36%. For the team, solid growth in total payout volume and dividend yield expansion, driven by lower transaction costs, will have a positive impact on the company.
The preference for B3 shares is due to the lower impact caused by Selic. The assessment is that the owner of the Brazilian stock exchange is also less reliant on retail equity trading with a revenue “mix” seen as more defensive.
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