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Day: May 20, 2020

BTG Pactual estimates a 34% drop in corporate earnings in 2020

BTG Pactual projects a 34% drop in the profit of Brazilian companies in 2020, compared to the previous forecast, released in October, of 20% growth. For 2021, the expectation is for an expansion of 57%. The estimate does not consider Petrobras and Vale.

Source: Valor Investe

Posted on May 20, 2020 by darciopPosted in Business

S&P downgrades Azul with negative outlook

S&P Global Ratings downgraded Azul Linhas Aéreas’ credit rating on a global scale from “B” to “CCC +”, with a negative rating outlook. S&P believes that Brazilian airlines should face a contraction in demand of around 50% in 2020, causing Azul to maintain about 40% of its fleet on land until the end of the year.

Source: Valor Investe

Posted on May 20, 2020 by darciopPosted in Business

GDP contraction may be greater than 5% in 2020

Treasury Secretary Mansueto Almeida said that the contraction of Gross Domestic Product (GDP) this year may be greater than 5%, compared to an official estimate of a 4.7% decline, and stressed that projections worldwide are being revised by account of the coronavirus pandemic.

Source: UOL Economia

Posted on May 20, 2020 by darciopPosted in Macroeconomy/Finance

CCEE transfers $ 98 million to energy distributors

The Electric Energy Trading Chamber (CCEE) reported that it transferred about R$ 538 million ($ 98 million) from the Energy Development Account (CDE) to electricity distributors, as a way to mitigate the effects of the coronavirus in the sector, which suffers with default and drop in consumption.

Source: UOL Economia

Posted on May 20, 2020 by darciopPosted in Industry

Brazil may close May with export of 14.7 million tons of soybean

Brazil may close the month of May with soybean shipments of 14.7 million tons, according to a weekly survey by (Anec). The expected volume had a slight increase compared to the previous week’s report, which indicated 14 million tons. According to the association, in the month to May 16, the country has already shipped 7.5 million tons of soybeans.

Source: Agencia Estado

Posted on May 20, 2020 by darciopPosted in Industry

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