Brazil's Petrobras holds off on fuel price hike for now, sources say
The sources, speaking on condition of anonymity, said that the state-run oil giant is waiting for a sustained shift in Brent crude prices before considering any price changes.
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- Reuters
Shares of Brazil's Fleury jump on reports of talks with Rede D'Or
SAO PAULO, July 21 (Reuters) - Shares of Brazilian medical diagnostics company Fleury ( opens new tab jumped on Monday after reports of a potential acquisition by hospital chain Rede D'Or ( opens new tab, which analysts said could generate synergies. Fleury's shares rose more than 15% in trading in Sao Paulo, making it the biggest gainer on benchmark stock index Bovespa (.BVSP), opens new tab, which was up 0.6%. Rede D'Or, meanwhile, gained 1.2%. Multiple local media outlets said on Sunday that Rede D'Or was in talks with Fleury on a deal that could combine Brazil's largest integrated healthcare network with a leading medical lab chain. Brazil Journal reported, citing sources, that Rede D'Or was working on an offer that could include both a cash payment and share swap. Fleury counts lender Bradesco ( opens new tab as one of its main shareholders. Rede D'Or said on Monday it continuously evaluates opportunities to expand, including potential acquisitions or business combinations, but that no decision or proposal had been made for a potential deal with Fleury. In a separate statement, Fleury said it regularly analyzes market conditions but also noted that no decision had been reached on a potential transaction with Rede D'Or. Goldman Sachs analysts said Fleury could benefit under Rede D'Or's management from better procurement terms, especially on materials, in which there would be some overlap, and a leaner general and administrative structure. Fleury has a market capitalization of 6.91 billion reais ($1.24 billion), while Rede D'Or's market cap stands at 75.29 billion reais, according to LSEG data. Rede D'Or in 2022 acquired insurer SulAmerica in a deal worth 13 billion reais, part of a trend for consolidation in Brazil's healthcare sector that saw the hospital chain as one of the most active companies in recent years. Analysts at Santander said a deal between Fleury and Rede D'Or would make sense from a strategic point of view. "Main synergies could be related to higher scale, and therefore more bargaining power to buy materials at Fleury and G&A savings," they said. ($1 = 5.5704 reais)
Reuters
9 minutes ago
- Reuters
Britain secures $2.7 billion investment from South Korea's Shinhan
LONDON, July 21 (Reuters) - Britain said on Monday that it had secured a 2 billion pound ($2.70 billion) investment into the country's financial services sector from the Republic of Korea's oldest banking firm, Shinhan Financial Group CO Ltd ( opens new tab. The investment - aimed at supporting energy, digital assets and infrastructure projects over the next five years - builds on a previous commitment made in 2023 under the former UK government. ($1 = 0.7412 pounds)
Reuters
an hour ago
- Reuters
Brazil economists trim 2026 inflation forecast in boost for central bank
SAO PAULO, July 21 (Reuters) - Private economists polled weekly by Brazil's central bank trimmed their 2026 inflation outlook for the first time in over two months, according to a survey released on Monday, in a welcome development for the central bank. Consumer prices in 2026 are now expected to rise 4.45%, down from 4.50% the previous week, a projection that had remained unchanged for nine straight weeks. The central bank targets inflation at 3% with a tolerance range of plus or minus 1.5 percentage points. Central bank officials have expressed concern that long-term inflation expectations may be becoming unanchored, despite the country's main interest rate standing at a restrictive 15%. Economists' forecasts for inflation held steady at 4% for 2027 and dipped slightly to 3.80% from 3.81% for 2028, the survey showed. Inflation projections for this year have been on a steady decline, supported by a stronger exchange rate. They continued that trend this week, easing to 5.10% from 5.17% previously. Central bank chief Gabriel Galipolo said in a letter earlier this month that inflation is expected to return to within the tolerance band by the end of the first quarter of 2026. Estimates for Brazil's benchmark interest rate remained unchanged from the previous week, at 15% for 2025 and 12.5% for 2026. The following is a set of projections from the survey:
