Brazilian stocks are expected to continue their gradual uptrend this year, according to a Reuters poll. The Bovespa equity index is expected to reach 120,000 points by the end of 2021, a 9.4% increase from its current level. This is due to mixed company earnings, with food exporters feeling the pinch from slower global growth, while banks take advantage of sky-high interest rates. In Mexico, the S&P/BMV IPC stock index is expected to rise 7.5% to 57,475 points by year-end, for a total gain of 18.6% in 2023. An agreement between the central bank and government officials should lead to policy easing at some point, which is likely to propel Brazilian stocks higher.
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