Advertisement
Canada markets close in 5 hours 57 minutes

  • S&P/TSX

    22,369.78
    +110.62 (+0.50%)
     

  • S&P 500

    5,193.04
    +5.37 (+0.10%)
     

  • DOW

    39,145.37
    +88.98 (+0.23%)
     

  • CAD/USD

    0.7302
    +0.0014 (+0.20%)
     

  • CRUDE OIL

    79.34
    +0.35 (+0.44%)
     

  • Bitcoin CAD

    83,807.20
    -1,621.91 (-1.90%)
     

  • CMC Crypto 200

    1,315.84
    +15.74 (+1.21%)
     

  • GOLD FUTURES

    2,328.20
    +5.90 (+0.25%)
     

  • RUSSELL 2000

    2,054.21
    -0.93 (-0.05%)
     

  • 10-Yr Bond

    4.5000
    +0.0080 (+0.18%)
     

  • NASDAQ

    16,292.79
    -9.96 (-0.06%)
     

  • VOLATILITY

    13.28
    +0.28 (+2.15%)
     

  • FTSE

    8,377.32
    +23.27 (+0.28%)
     

  • NIKKEI 225

    38,073.98
    -128.39 (-0.34%)
     

  • CAD/EUR

    0.6780
    +0.0004 (+0.06%)
     
MARKETS LIVE BLOG:

STOCKS WOBBLE AT OPEN AS INVESTORS LOOK FOR INSPIRATION

Airbnb shares slump as gloomy Q2 forecasts fan slowdown worries

Brazilian broker XP to buy back $105 mln of shares as Itausa offloads stake

Reuters
·1 min read

Nov 10 (Reuters) - XP Inc will buy back 5.5 million of its shares worth $105 million from conglomerate Itausa SA, which has been unloading its holding in the Brazilian broker to buy stakes in other companies.

The deal, announced by XP on Thursday, is not a part of its share buyback plan stated in May and comes days after the company posted a jump in third-quarter profit, helped by higher client assets.

Shares of XP fell 4% in premarket trading on Thursday. They have fallen nearly 31.5% this year.

Itausa, which controls Brazil's largest lender Itau Unibanco Holding SA, is looking to buy stakes in other companies such as transportation infrastructure firm CCR SA .

As of early October, Itausa held an 11.49% stake in XP, according to Refinitiv IBES data. (Reporting by Anirban Chakroborti in Bengaluru; Editing by Shinjini Ganguli)