Marcopolo net profit falls 2% in Q4 to R$68.5 million

Net profit of bus manufacturer Marcopolo fell 2% in the fourth quarter compared to the same period in 2018, to R$68.5 million ($ 15.3mn). In the year, the net profit of the Brazilian bus manufacturer was R$201.4 million, an increase of 8% compared to 2018. Although the Brazilian bus production increased 9.5% last year, to 25,469 units, that of Marcopolo decreased 4.2%. Domestic market demand grew 20.8% compared to 2018, offsetting the 14.6% drop in exports.

Source: Valor Investe

IGP-M inflation falls 0.04% in February, after 0.48% increase in January, FGV

The General Price Index – Market (IGP-M) fell 0.04% in February compared to 0.52% in January, accumulating 6.82% in the last twelve months, the Getulio Vargas Foundation reported. The Broad Producer Price Index (IPA) reversed the trend and fell 0.19% in February, after advancing 0.50% in the previous month. The wholesale cost indicator accumulates an increase of 8.38% in 12 months. The Consumer Price Index (CPI) also slowed and increased 0.21%, from 0.52% in January, and accumulates 3.67% in 12 months.

Source: Istoé

Bovespa tumbles 7% as coronavirus fear grips stocks, oil markets

Stocks and oil prices resumed their fall on Wednesday due to increasing concern over coronavirus spread. On Wall Street, the emerging market stocks lost 1.25%. Brazil’s Bovespa index tumbled 7%, catching up with the selloff after a long carnival holiday, and the same day a first case of coronavirus in the country was confirmed. Argentina’s S&P Merval fell 5.65%. U.S. crude fell 2.38% to $48.71 per barrel and Brent was last at $53.41, down 2.8% on the day.

Source: Reuters

Brazil spent $3.3bn in ‘highly dangerous’ agrochemicals, Unearth

Brazil tops the list of recipients of agrochemical products classified as “highly dangerous,” accounting for about $3.3 billion in 2018, according to Unearthed, a journalism group funded by Greenpeace UK, and the Swiss NGO Public Eye. “The approval of new pesticides by Brazilian regulators, including those containing HHPs (highly hazardous pesticides), has grown under the governments of Michel Temer and Jair Bolsonaro,” the report says. The pesticides market is dominated by five companies – Bayer, BASF, Syngenta, FMC and Corteva (formerly Dow and DuPont).

Source: The Rio Times

Jangada Mines reports positive drilling results at Pitombeiras

Jangada Mines reported each of three drill holes intersecting vanadium titanomagnetite mineralisation at its Pitombeiras project in Brazil. Results included intersecting 38 metres at 0.558% vanadium oxide, 11.31% titanium and 38.40% iron. ‘These initial results continue to underscore the strong prospectivity of our Pitombeiras project,’ chairman Brian McMaster said. At 1:19pm Thursday: [LON:JAN] Jangada Mines Plc Ord Gbp0.0004 share price was -0.15p at 2.2p

Source: Stock Market Wire