In the session of April 2, 2020, Brazilian fintechs had mixed results on the United States stock exchanges. XP Inc. showed a drop of 1.73% on Nasdaq, closing at US$ 18.71, after a significant rise of 7.39% in the previous session, on March 31. Meanwhile, Agibank fell 1.38% on the New York Stock Exchange (NYSE), closing at US$ 7.17, after showing gains last Tuesday.
Meanwhile, PicPay and PagBank stood out with the highest gains of the day among companies in the sector. PicPay rose 6.60%, ending the day at US$ 11.14 on Nasdaq, and PagBank appreciated 5.09%, closing at US$ 10.53 on the NYSE. This performance shows a market preference for these companies during this period, contrary to the declines seen in other important players.
Other fintechs also registered gains, but at more modest percentages. Banco Inter advanced 0.50%, closing at US$ 8.00 on Nasdaq, while Nu Holdings rose 0.49%, reaching US$ 14.44 on the NYSE. StoneCo showed an appreciation of 1.70%, ending the trading session at US$ 14.36 on Nasdaq. Thus, despite individual fluctuations, the overall outlook reveals a predominantly positive close, especially amid a session marked by uncertainties for the sector.
External Context and Additional Information from the Financial Sector
President Donald Trump warned that he might launch a large-scale attack against Iran within the next two to three weeks. The statement was made in a national broadcast in the United States during a 19-minute speech. This threat generated apprehension in global markets and increased geopolitical tensions at the current moment.
In the trading session held on April 2, the American stock market showed varied performances. The Dow Jones index recorded a drop of 0.13%, while the S&P 500 rose 0.11% and Nasdaq advanced 0.18%. On the other hand, the NYSE showed a slight increase of 0.06% that same day. These figures indicate that, despite concerns over the international scenario, some investors maintained moderate optimism.
Meanwhile, in Brazil, there are reports of workforce reduction at a financial institution located on Avenida Paulista, with about 370 employees affected. The company, which until recently was identified as BMP Money Plus, confirmed that it was a one-time adjustment, although it did not disclose further details. This platform is known for offering checking accounts without fees, Pix without limits, and boleto issuance, services that directly impact the digital segment.
The rating agency Fitch Ratings is analyzing the portfolios and capital structure of Brazilian fintechs, including Nubank, Banco Inter, C6 Bank, Neon, and PicPay. The goal is to assess the financial risks and sustainability of these companies in the current competitive market, given the increasing regulatory and economic pressure.
An executive linked to the financial sector recently founded the company View Different. In addition, he participates on the boards of The Economist group and KKR, one of the largest global investment managers. This activity indicates a move towards greater integration between financial innovation and established structures in the international market.
Finally, as reported by the Reuters agency, a startup is in the process of obtaining Payment Institution (IP) and Direct Credit Society (SCD) licenses from the Central Bank. The initiative aims to expand the company’s performance in the financial sector, diversifying services and strengthening its regulated presence in the digital environment.
