Ibovespa rises slightly on options expiration day, with corporate events in focus.

By Paula Arend Laier

SAO PAULO (Reuters) The Ibovespa closed with a slight increase this Friday, hovering around 132 points, in a trading session marked by the expiration of stock options on the São Paulo stock exchange and a series of corporate results, including figures from Brava Energia, Cemig, and Hypera.

The Ibovespa, the benchmark index of the Brazilian stock market, rose 0,3% to 132.344,88 points, after hitting a low of 131.776,39 points and a high of 132.588,02 points during the day. For the week, it accumulated a gain of 2,63%. Trading volume on Friday totaled R$33,1 billion.

According to Naio Ino, equity fund manager at Western Asset, the Ibovespa index remained "more or less unchanged," reflecting a certain leveling off after a more positive start to the year, mainly driven by a global rotation of resources, with "micro (company news) weighing more heavily than macro."

In 2025, the Ibovespa has already accumulated a gain of almost 10%, largely helped by the flow of foreign capital, which has been positive at R$14,3 billion since the beginning of the year up to the 19th of this month.

HIGHLIGHTS

- PETROBRAS PN advanced 1,55%, benefiting from improved oil prices in the international market, where the price of Brent crude closed with an increase of 0,22%. PETROBRAS ON ended with a rise of 1,61%.

- Vale ON rose 0,37%, even with the decline in iron ore futures in China. UBS BB analysts led by Caio Greiner initiated coverage of the mining and metals sector in Brazil with a neutral recommendation for Vale and a target price of US$10,50 for the ADR.

- ITAÚ UNIBANCO PN closed with a gain of 0,22%, on a positive day for the sector on the Ibovespa.

- BRAVA ENERGIA ON advanced 5,57%, even after reporting a 41% drop in operating profit measured by adjusted EBITDA for the fourth quarter of last year, to R$505 million. Speaking to Reuters, the company's president, Décio Oddone, stated that he has high expectations for 2025, including the forecast of reaching more than 80 barrels of oil equivalent per day (boe/d) of production in the coming months.

- HYPERA ON shares rose 3,93%, reversing the opening decline, amid the repercussions of last year's fourth-quarter results. In a conference call with analysts, the CEO said that Hypera plans to launch a drug in Brazil based on the active ingredient of the popular Ozempic as soon as the drug's patent expires in March of next year. The pharmaceutical company's board of directors also approved the distribution of R$184,7 million in interest on equity.

- LOJAS RENNER ON shares rose 3,59% after the fashion retailer's board of directors approved R$189,6 million in interest on equity, equivalent to almost R$0,19 per share. The payment will be made on April 9, based on the shareholding position on March 25.

- AUTOMOB ON fell 10%, following a net loss of R$101 million in the fourth quarter of last year, reversing a slightly positive result from a year earlier, with a drop in EBITDA and a negative margin. According to the company, the operational performance of the fourth quarter "does not yet reflect the integrations and synergies, and is still impacted by the negative EBITDA of the agricultural dealerships in this period."

- CEMIG PN fell 4,85% after the Minas Gerais state-owned energy company reported EBITDA of R$1,94 billion in the fourth quarter of last year, 10,4% lower than that observed in the fourth quarter of 2023, affected by a 61% drop in profit from electricity sales. The company's board of directors also approved R$541 million in interest on equity.

- PETZ ON fell 4,3%, on a day marked by the repercussions of its earnings report, which showed an expansion of approximately 25% in operating profit measured by adjusted EBITDA, to R$83,3 million. The retail chain of products and services for pets said that it began the first quarter of this year "with the same growth trends presented in the second half of 2024, with a good level of growth combined with the preservation of the gross margin".

- ENEVA ON fell 3,63%, amid a surge in net losses in the fourth quarter of last year, to R$962,6 million, from R$290,6 million a year earlier. Adjusted EBITDA grew 20% to R$1,2 billion, but the margin in this metric fell from 38% to 25,5%.

- NATURA&CO ON fell 1,66%, after changing direction more than once during trading, amid analysis of the proposal for the incorporation of the company by its subsidiary Natura Cosméticos, which would once again become the group's operational holding company and would again have shares traded on the stock exchange, in addition to changes in the board of directors, with the CEO of Natura&Co, Fabio Barbosa, and the CFO, Guilherme Castellan, leaving their positions.