Brazil futures, dollar and corporate news in focus

The Ibovespa futures contract for June 2026 opened higher on Monday, trading at 169,995 points, up 0.29% at 9:35 AM. While this index is seen as a potential indicator of market direction, it does not always predict the actual trading session that starts at 10 AM.

The commercial dollar fell 0.32% to 5.141 reais at 9:33 AM. Brent crude oil, a benchmark for Petrobras, rose 1.5% to $94.5 per barrel. Gold futures for February 2026 fell 0.42% to $4,347 per troy ounce. In daytime trading, iron ore futures on China’s Dalian exchange closed down 0.78% at 759 yuan ($112.18), a price that can affect shares of Brazilian mining companies Vale and CSN Mineração.

On Wall Street, Dow Jones futures were up 0.24% and S&P 500 futures rose 0.66% at 9:11 AM. Nasdaq futures gained 1.21%.

Cyrela

The board of Cyrela approved the cancellation of 3,353,550 preferred shares held in treasury and a new buyback program for up to 9,680,000 common shares and up to 4,800,000 preferred shares, according to a material fact filed Sunday night. The company said the cancellation will not reduce its capital stock. The buyback program ends on December 8, 2027. Currently, 273,767,156 common shares are outstanding. Cyrela stated the goal is to use available funds to buy shares on the market at market prices, aiming to create value for shareholders. Acquired shares may be held in treasury, canceled, sold later, or used for future stock-based incentive plans.

Braskem

Braskem responded to a report in the newspaper Valor Econômico that said the company is expected to default on bond interest payments. The report claimed Braskem, considering an out-of-court restructuring, will not pay a $150 million bond interest payment due in July or August maturities. It said the company is negotiating support from one-third of creditors to file for out-of-court restructuring before those payments, and if it fails, a judicial restructuring is possible.

Braskem clarified that on September 26, 2025, it hired financial and legal advisors to help with a broad analysis of financial alternatives to optimize its capital structure. The analysis is ongoing, and the company and its advisors are advancing structured talks with creditor advisors. Braskem stated that different alternatives are being considered, including potential measures to reschedule financial obligations and seek creditor protection. As of June 5, no formal decision had been made.

Totvs

Morgan Stanley reduced its stake in Totvs, the Brazilian company reported Friday night. The bank, through its subsidiaries, now holds the equivalent of 2.6% of Totvs’s total common shares. Morgan Stanley said the sale is not intended to change the company’s control or management structure.

Raízen

Raízen filed its out-of-court restructuring plan with the 3rd Bankruptcy and Judicial Recovery Court of São Paulo, according to a material fact filed with the Brazilian Securities Commission early Saturday. The plan has support from 75.45% of financial and unsecured creditors covered by the restructuring, totaling 64.7 billion reais, excluding intercompany credits. The plan offers creditors options including replacing debt with new instruments or converting part of the debt into equity.

Key measures include a capital increase of 3.5 billion reais from Shell, paid in cash, and up to 500 million reais from Aguassanta Participações, controlled by the family of Cosan’s controlling shareholder, both receiving common shares. Also, 45% of restructured credits will be converted into equity through units composed of one common and one preferred share at an issuance price of 0.50 reais per unit. The remaining 55% will be replaced by new debt instruments. The plan also includes asset segregation, a divestment agenda, and corporate reorganizations. A payment option with a significant discount is available, including an early cash payment option for smaller creditors, subject to a global limit of about 150 million reais.

Raízen said the plan aims to address short- and medium-term liquidity needs and establish a sustainable long-term capital structure. The company expects to reduce leverage, preserve operations, and ensure fair treatment for creditors. The plan will go to court for approval, with a 30-day period for creditor objections. Raízen reaffirmed that the restructuring is strictly financial and does not affect obligations to customers, suppliers, and other business partners.

Inter & Co

Inter & Co announced that Banco Inter received a license from the Florida Office of Financial Regulation to launch and operate in the state.