Day: February 27, 2020

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.

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.

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.