NEWSLETTER SEPTEMBER 2024
MURRAY ADVOGADOS
Entries by Gelcy Bueno
Belgium’s Oleon acquires Brazilian A. Azevedo Oils
Belgian Company, controlled by France’s Avril, cut the deal for an undisclosed amount 10/01/2024 01:47 PM Atualizado 01/10/2024 Oleon, a Belgian subsidiary of the French group Avril and a global leader in natural-based oleochemicals, has finalized the purchase of Brazil’s A. Azevedo Oils, a prominent manufacturer of vegetable oils and its products—particularly those derived from castor […]
Fixed income wins, but outlook for stocks improves
For asset managers, U.S. rate cuts and China’s stimulus package could lead to stock market recovery 10/01/2024 September felt like all of 2024 unfolded in a single month. It featured the expected rate cut by the U.S. Federal Reserve, a hike in Brazil’s Selic policy rate, and even stimulus measures for China’s economy. The renewed […]
Selic rate hike to hit indebted companies harder
While many firms refinanced debt during lower spreads, several sectors remain highly leveraged 10/01/2024 The ongoing Selic benchmark interest rate hike, which began in September, is expected to impact the financial performance of companies raising funds through the debt market, particularly those in highly leveraged sectors such as retail, car rentals, and healthcare. However, the […]
Brazil’s economic outperformance does not ease fiscal uncertainty, Fitch says
Credit rating agency says that if fiscal performance is weak during strong economic growth, it may deteriorate further during an unexpected slowdown 09/27/2024 Despite Brazil’s surprising economic growth this year, the country’s fiscal performance has been “weaker than anticipated,” maintaining high uncertainty regarding public finances, according to Fitch Ratings. “Economic outperformance may partly result from […]
Companies ramp up share buybacks using cash and credit
With stock prices below “fair” value, firms launched 53 buyback programs from January to August, compared to 35 last year 09/27/2024 Publicly traded companies are capitalizing on a lackluster year in the capital markets by launching share buyback programs, seizing the opportunity to repurchase shares they believe are undervalued. From January to August, 53 buyback […]
Market expects sharper Selic hikes following Central Bank’s inflation forecast
The report reveals strong economic activity and inflation above target until 2027 09/27/2024 The Central Bank’s inflation projections, which remain above the target throughout the forecast horizon, as highlighted in the Inflation Report released on Thursday, have strengthened expectations of further tightening the Selic rate in the coming months. Financial institutions are now adjusting their […]
Central Bank minutes signal faster tightening pace
The market increasingly expects a 50-basis-point hike in the Selic policy rate by November, with forecasts of 12% per year rate or higher gaining traction 09/25/2024 After the Central Bank’s Monetary Policy Committee (COPOM) maintained a notably harsh tone in the minutes of its last meeting, the market has increasingly consolidated the view that accelerating […]
Arbitrators exit Eldorado case, citing threats from J&F
The Batista brothers’ holding company and partner Paper Excellence have been in conflict in various courts since 2018 09/24/2024 The president of the arbitration tribunal overseeing the dispute between J&F Investimentos and Paper Excellence over control of the pulp producer Eldorado, along with another arbitrator, resigned on Monday (23). According to letters reviewed by Valor, […]
Market distrust of fiscal policy grows as interest rate futures hit yearly high
Rates surpass 12% after disappointing report, impacting exchange rate and stock market 09/24/2024 The market once again voiced concern over the state of government accounts, leading to the third consecutive session of pressure on futures rates, which reached their highest levels of the year and settled above 12%. Investors were disappointed by Friday’s release of […]