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iShares Inc iShares MSCI Brazil ETF (ARCA:EWZ), Report sulle vendite allo scoperto

iShares Inc iShares MSCI Brazil ETF

iShares MSCI Brazil Capped Index Fund

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The Fund seeks to track the investment results of the MSCI Brazil 25/50 Index (the Underlying Index), which is a free float-adjusted market capitalization-weighted index that is designed to measure the performance of the large- and mid-capitalization segments of the equity market in Brazil. The Underlying Index is rebalanced quarterly using an optimization process that aims to minimize the constituent weight differences between the Underlying Index and the MSCI Brazil Index (the Parent Index). The Underlying Index uses a capping methodology that limits the weight of any single group entity (constituents that MSCI determines have a control relationship) to a maximum of 25% of the Underlying Index weight, and the sum of all group entities with a weight above 5% to an aggregate of 50% of the Underlying Index weight. A group entity is a group of companies that operate as an affiliated corporate group but may separately issue listed securities.

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iShares MSCI Brazil ETF

iShares MSCI Brazil Small-Cap ETF

Trump Media and Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) ("TMTG"), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, has jointly filed an emergency motion with its partner Rumble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) in U.S. federal court to halt the suspension of Rumble in Brazil by a Brazilian judge.

Macro Economic Events

News

Global

Economics

Trump Media, Rumble File Court Motion Against Suspension Of Rumble In Brazil

- Reuters Citing Court Decision/ G1 Website

Legal

Brazil Supreme Court Justice Moraes Orders Video-Sharing Platform Rumble To Be Blocked In Brazil

GPRE

President Trump Memo On Reciprocal Tariffs To Mention Brazil Ethanol Tariffs

Contracts

Embraer-Empresa Brasileira De Aeronautica

Embraer CEO Says Company To Make New Investments Totaling 20 Billion Reais In Brazil

Brazil Government Says It Sees Meta Changes To Hate Speech Policy As Worrying, Will Hold Public Hearing To Discuss Topic

Brazilian assets are stumbling into the new year as skepticism over President Luiz Inácio Lula da Silva's fiscal repair skills <a href="https://www.benzinga.com/topic/brazil">continues to grow</a>.
What Happened: The Brazilian real has dropped nearly 22% against the U.S. dollar this year, according to <a href="https://www.bloomberg.com/news/articles/2024-12-30/brazil-leads-global-losses-in-2024-as-fiscal-angst-takes-hold?srnd=homepage-americas&amp;sref=TBDibEcD">Bloomberg</a>.
The country&#8217;s central bank, which spent some $20 billion in reserves over the course of two weeks to boost the currency, met again on Monday and sold about $1.8 billion in a spot sale.
The real briefly perked up by just 0.4%, while government bond yields hit heights not seen since former Brazilian President Dilma Rousseff was removed from office in 2016. 
Also, the Ibovespa equity index, the benchmark stock market index for the Brazilian Stock Exchange, is lagging behind almost all major peers.
See Also: <a href="https://www.benzinga.com/news/global/24/12/42562850/brazilian-real-plunges-as-investors-doubt-president-lulas-budget-initiatives">Brazilian Real Plunges As Investors Doubt President Lula&#8217;s Budget Initiatives</a>
Why It Matters: Lula da Silva's budget deficit has ballooned to a whopping 10% of gross domestic product. In other words, Brazil&#8217;s government is spending significantly more than it earns in revenue.
This is not just a Brazilian problem. Emerging markets, for the most part, are currently grappling with <a href="https://www.benzinga.com/24/12/42677388/chinas-squid-game-inspired-scams-target-financially-distressed-amid-economic-slowdown">China's sputtering economy</a>, <a href="https://www.benzinga.com/24/12/42719521/asia-and-europe-markets-mixed-natural-gas-jumps-10-oil-stable-on-demand-hopes-gold-slips-global-markets-today-while-us-slept">geopolitical drama</a>, and the wildcard of U.S. President-elect Donald Trump's <a href="https://www.benzinga.com/government/regulations/24/12/42701155/made-in-china-paid-in-america-what-trumps-new-tariffs-mean-for-the-us-economy">upcoming policies</a>. 
Lula da Silva, who took office in 2023, does not have broad support. Pew Research <a href="https://www.pewresearch.org/global/2024/09/23/brazilians-views-of-lula-and-bolsonaro/">estimates</a> that 48% of Brazilians have a positive view of the 79-year-old politician.
It&#8217;s unclear whether his pick for central bank chief, Gabriel Galipolo, will improve his favorability. Galípolo will begin his term as president of the Central Bank of Brazil on Jan. 1.
Brazilian equities are tracked by the iShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>), which jumped by 0.42% at last check Monday afternoon.
Now Read:
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<li><a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025" target="_blank" rel="noreferrer noopener">Fed Slashes Interest Rates By 0.25% As Predicted: December Dot Plot Flags Only 2 Potential Cuts In 2025</a></li>
</ul>
Image: Shutterstock

Latin America

Politics

Brazil Central Bank Fails To Impress As Real Slides Further: Report

Brazil&#8217;s currency, the real, has <a href="https://www.benzinga.com/topic/brazil">continued its plunge</a> as investors grow skeptical of President Luiz Inácio Lula da Silva&#8216;s budgetary plans.
The real, the worst-performing currency over the past four market sessions, has fallen over 3% against the US dollar in the past week. Its plunge against American currency is over 21% in the past year.
On Wednesday, Finance Minister Fernando Haddad told reporters that Brazil&#8217;s currency could be the victim of a &#8220;speculative attack,&#8221; Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-18/brazil-finance-chief-says-real-may-be-under-speculative-attack">reports</a>.
"There may be speculative attacks, but I don't want to make a judgment about that, because the Finance Ministry works with fundamentals," Haddad reportedly said. The currency fell even further following the minister&#8217;s remarks.
Investors are skeptical of Lula da Silva&#8217;s budget deficit reduction plan. A series of cost-cutting measures designed to cut 70 billion reais ($11.3 billion) from the country&#8217;s budget was marked up and approved by the lower house of the Brazilian legislature on Tuesday.
The plan, <a href="https://www.bloomberg.com/news/articles/2024-08-30/brazil-president-lula-set-to-unveil-unpopular-budget">unveiled</a> over the summer, did not find supporters from within Lula da Silva&#8217;s leftist political party nor from the financial markets.
Lula da Silva, who entered office in 2023, does not have broad support; <a href="https://www.pewresearch.org/global/2024/09/23/brazilians-views-of-lula-and-bolsonaro/">according</a> to Pew Research, 48% of Brazilians have a favorable view of the 79-year-old politician.
Brazilian equities, as tracked by the iShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>), fell by 6% on Wednesday. The benchmark is trading down over 34% in 2024.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025">Fed Slashes Interest Rates By 0.25% As Predicted: December Dot Plot Flags Only 2 Potential Cuts In 2025</a></li>
</ul>

Government

Forex

ETFs

Brazilian Real Plunges As Investors Doubt President Lula's Budget Initiatives

Mexico's President Claudia Sheinbaum has announced a review of a controversial bill to ban <a target="_blank" href="https://www.benzinga.com/topic/mining" rel="noreferrer noopener">open-pit mining</a>. Congress approved the bill in July after debating balancing environmental protection with economic priorities.
"Open-pit mining warrants a thorough review, as activities such as sand extraction for cement production and lithium mining—critical for national development—are conducted using this method. It is vital to assess the specifics of the constitutional reform's provisions," Sheinbaum <a target="_blank" href="https://www.gob.mx/presidencia/articulos/version-estenografica-conferencia-de-prensa-de-la-presidenta-claudia-sheinbaum-pardo-del-6-de-diciembre-de-2024?idiom=es" rel="noreferrer noopener">said</a>.
Mexico's mining industry is a pillar of its economy, accounting for around 8% of its industrial GDP. In 2022, mining exports totaled $17.6 billion, generating a trade surplus of $12.8 billion. It directly employs over 370,000 workers and supports millions more in related industries such as logistics and equipment manufacturing.
Large operating open-pit mines include Newmont's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) Peñasquito and Southern Copper's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) Buenavista. The ban would likely stop the San Nicolás copper-zinc project, a 50-50 partnership between Teck Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) and Agnico Eagle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>).
CAMIMEX, Mexico's primary mining chamber, warned that an outright ban could reduce GDP by 1% and threaten nearly 200,000 jobs. Open-pit mining accounts for 60% of the country's mining production value and is critical for extracting key resources like gold, silver, copper and strategic minerals like lithium.
Under former President Andrés Manuel López Obrador (AMLO), Mexico's mining sector faced heavy restrictions. In 2023, AMLO nationalized lithium, declaring it a strategic resource for Mexico's energy independence and banning new concessions for private companies.
He also established a state-run lithium company and canceled multiple existing concessions, triggering international arbitration disputes.
While the bill passed Congress during his administration, Sheinbaum took over in October, becoming the first female president.
Unlike AMLO, she faces economic difficulties at the beginning of her six-year term. Without foreign capital, it will be hard to provide quality jobs, education, and healthcare.
Meanwhile, El Salvador's President Nayib Bukele is pushing to go in the opposite direction. In 2017, his predecessor implemented a total mining ban to protect the country's water resources.
Still, Bukele, a famous Bitcoin advocate, claims that the untapped mineral reserves could transform the economy.
"We potentially have the largest gold deposits per square kilometer in the world," he <a target="_blank" href="https://x.com/nayibbukele/status/1865129919870578791" rel="noreferrer noopener">stated</a>, arguing that responsible mining could generate $131 billion—equal to 380% of the country's GDP—from just 4% of identified reserves. Earlier this year, Bukele secured the second term, winning 84.65% of popular votes. With control over Congress, lifting the ban seems inevitable.
However, in contrast to Mexico, El Salvador is a small country, largely dependent on the Lempa River as a primary water source. Any large-scale operations, particularly in the gold-rich north of the country, could pollute this water flow and cause more problems for what it is worth.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/12/42475000/if-trump-starts-a-trade-war-canada-could-impose-export-taxes-on-oil-uranium-report" target="_blank" rel="noreferrer noopener">If Trump Starts A Trade War, Canada Could Impose Export Taxes On Oil, Uranium: Report</a></li>
</ul>
Photo via Shutterstock

Regulations

Commodities

Media

BATT

FLMX

LITP

MEXX

SCCO

TECK

Mexico And El Salvador Ponder Different Mining Stances

Prime Minister Keir Starmer is seeking to meet with China&#39;s Xi Jinping at next week&#39;s Group of 20 summit in Rio de Janeiro, in what would be the first face-to-face encounter between British and Chinese leaders in almost seven years.&nbsp;
<a href="https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro" title="https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro">https://www.bloomberg.com/news/articles/2024-11-15/uk-s-starmer-seeks-xi-meeting-at-g-20-summit-in-rio-de-janeiro</a>

Macro Notification

General

'UK's Starmer Seeks Xi Meeting at G-20 Summit in Rio de Janeiro' - Bloomberg

<a href="https://www.reuters.com/technology/brazil-institute-sues-social-media-giants-525-million-over-excessive-use-by-2024-10-28/" title="https://www.reuters.com/technology/brazil-institute-sues-social-media-giants-525-million-over-excessive-use-by-2024-10-28/">https://www.reuters.com/technology/brazil-institute-sues-social-media-giants-525-million-over-excessive-use-by-2024-10-28/</a>

Reported Earlier, 'Brazil's Collective Defense Institute Has Filed Two Lawsuits Demanding $525.27M From The Brazilian Units Of TikTok, Kwai And Meta Platforms For Allegedly Failing To Create Mechanisms To Prevent Indiscriminate Use Of These Social Media Platforms By Minors' - Reuters News

<a href="https://brics-russia2024.ru/en/news/plenarnoe-zasedanie-xvi-sammita-briks-v-formate-autrich-briks-plyus/" title="https://brics-russia2024.ru/en/news/plenarnoe-zasedanie-xvi-sammita-briks-v-formate-autrich-briks-plyus/">https://brics-russia2024.ru/en/news/plenarnoe-zasedanie-xvi-sammita-briks-v-formate-autrich-briks-plyus/</a>

INDA

Watch Live: Russian President Vladimir Putin Holds A Meeting With Leaders At The BRICS Summit; Says Cross-Border Payments Issue Is Important, We Will Develop Cooperation Within BRICS; BRICS Does Not Pursue Separate Common Payment System

<a href="https://www.barrons.com/news/brazil-supreme-court-lifts-ban-on-musk-s-x-9cdc78a3">https://www.barrons.com/news/brazil-supreme-court-lifts-ban-on-musk-s-x-9cdc78a3</a>
&nbsp;
Brazil's Supreme Court announced Tuesday that it was lifting a ban on X, after the social media site had been blocked in its biggest Latin American market for over a month amid a row over disinformation.
"I authorize the immediate return of the activities" of the social platform, Judge Alexandre de Moraes said in his ruling, after X settled millions of dollars in fines for breaching court orders relating to the fight against misinformation.

'Brazil Supreme Court Lifts Ban On Musk's X' - Barron's

FMC Signs Distribution Agreement With Ballagro Agro Tecnologia To Expand Biological Crop Protection Solutions In Brazil, Strengthening Biosolutions Offering In Key Market

<a href="https://support.google.com/adspolicy/answer/13706872?hl=en-GB" title="https://support.google.com/adspolicy/answer/13706872?hl=en-GB">https://support.google.com/adspolicy/answer/15471805?hl=en-GB&amp;ref_topic=29265&amp;sjid=513775088423335456-NC</a>

GOOG

GOOGL

Google Updates Google Ads Gambling And Games Policy, Brazil To Run Ads For Online Sports Betting/ Online Gambling Services After Sept 30; Advertisers Must Demonstrate That They Have Requested Authorization To Operate These Services From The Brazilian Ministry Of Finance

Elon Musk's X Asks Brazil Supreme Court To Allow It To Resume Service In The Country

OPEC Event In Brazil Resumes After Being Halted Due To A Climate Protest

X Lawyers In Brazil Report Platform Will Soon Present Legal Representative To Supreme Court And Has Begun Complying With Court Orders To Remove Hate Content; Unintentional Technical Issue Allowed Some Users To Access X On Wednesday

Brazil's central bank will likely raise interest rates for the first time in two years due to a heated economy and an <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40919701/investors-betting-on-50-basis-point-rate-cut-expert-says-market-pressure-could-sw">above-target inflation outlook</a>.
In contrast, the U.S. central banking system just cut rates by a half percentage point Wednesday afternoon. 
Brazilian policymakers led by Roberto Campos Neto will lift the benchmark Selic by 25 basis points to 10.75% late on Wednesday, according to 31 of 35 economists in a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-18/brazil-readies-interest-rate-hike-diverging-with-fed?srnd=phx-economics-v2&amp;sref=TBDibEcD">survey</a>.
Two economists are forecasting a higher increase of 50 basis points the other two expect the rate to stay the same.
Most traders are expecting a rise of 25 basis points, with digital options at the local stock market pricing in a 15% chance of a 50 basis-point hike.
Latin America's largest economy differentiates itself from peer economies as its economic activity shows resilience to high borrowing costs. President&nbsp;Luiz Inacio Lula da Silva's increased public spending is boosting family income that is propped up supported by low unemployment.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40913751/50-or-25-bps-fed-rate-cut-markets-and-economists-at-odds-what-does-steeper-reduction-mean-for-in">50 Or 25 Bps Fed Rate Cut? Markets And Economists At Odds — What Does Steeper Reduction Mean For Investors?</a>
 A resilient economy along with questions about the government's commitment to fiscal responsibility are feeding into inflation projections which are above the 3% goal through 2027.
"Brazil's central bank is widely expected to embark on a hiking cycle on Wednesday, but there's plenty of questions that the post-meeting communication could clarify,&#8221; said Adriana Dupita, Brazil and Argentina economist for Bloomberg Economics.
&#8220;W expect the BCB to strike a delicate balance as it aims for a hawkish tone to curb inflation expectations, flexibility to adjust the rate path on new data and to push back on market pricing for aggressive hikes. Achieving all three is a tall task."
Price Action: Brazil exchange-traded funds saw gsins and losses into Wednesday&#8217;s early-afternoon trading.
<ul>
<li>IShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>) slipped 0.75%</li>
<li>Franklin FTSE Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLBR#NYSE">FLBR</a>) fell 0.63%</li>
<li>iShares MSCI Brazil Small-Cap ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWZS#NASDAQ">EWZS</a>) went up 0.03%</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40912283/mohamed-el-erian-warns-markets-have-gone-too-far-in-pricing-fed-as-single-mandate-central-bank-highl">Mohamed El-Erian Warns Markets Have Gone Too Far In Pricing Fed As &#8216;Single Mandate&#8217; Central Bank, Highlights Potential Disappointment Awaiting Investors Looking Forward To Rate Cut</a></li>
</ul>
Image: Shutterstock

Federal Reserve

Markets

EWZS

FLBR

Brazil Expected To Raise Interest Rates Hours After Fed Lowers Them

EHang Holdings Announces EH216-S eVTOL Aircraft Secures Experimental Flight Authorization From Brazil's Civil Aviation Agency, Plans Test Flights To Showcase Advanced Intelligent Flight Technology

On September 5, 2024, U. S. Steel, along with the United Steelworkers union ("USW") and Wheeling-Nippon, has filed antidumping and countervailing duty petitions with the United States Department of Commerce ("DOC") and the United States International Trade Commission ("ITC"), on imports of corrosion-resistant steel ("CORE") from Australia, Brazil, Canada1, Mexico, Netherlands, South Africa, Taiwan, Turkey, United Arab Emirates, and Vietnam.
Duane D. Holloway, Senior Vice President, General Counsel and Chief Ethics &amp; Compliance Officer of U. S. Steel, commented, "As we have for decades, U. S. Steel continues to lead the domestic industry in the fight against unfair trade on behalf of our workers, families, communities, and customers we serve. These new trade cases—the largest filed by U. S. Steel in nearly a decade—will address low-priced and subsidized CORE imports that continue to pour into the U.S. market. These cases aim to restore a level playing field and support our investments in Big River Steel's new dual coating line and second mini-mill in Arkansas, as well as U. S. Steel's CORE facilities across the country."

iShares MSCI Turkey Investable Market Index Fund

U.S. Steel, USW And Wheeling-Nippon Files Antidumping And Countervailing Duty Petitions With The U.S. DOC And The U.S. ITC, On Imports Of Corrosion-Resistant Steel From Australia, Brazil, Canada, Mexico, Netherlands, South Africa, Taiwan, Turkey, United Arab Emirates, And Vietnam

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iShares Inc iShares MSCI Brazil ETF

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iShares Inc iShares MSCI Brazil ETF (ARCA:EWZ), Report sulle vendite allo scoperto

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