Company Performance: Profitability, revenue growth, and debt levels of the underlying company (Natura &Co) influence investor confidence.

Brazilian Economy: Overall economic health in Brazil, including GDP growth, inflation, and interest rates, affects all Brazilian stocks.

Cosmetics Industry Trends: Changes in consumer preferences, new product innovations, and competitive pressures in the beauty industry impact Natura &Co's performance.

Global Market Sentiment: Broad investor risk appetite and global economic outlook influence demand for emerging market assets like Brazilian stocks.

Currency Fluctuations: The exchange rate between the Brazilian Real (BRL) and other currencies, particularly the US dollar (USD), affects the stock's value for international investors.

Regulatory Environment: Changes in regulations related to the cosmetics industry, environmental standards, or corporate governance in Brazil can impact the stock.

Political Stability: Political events and policy changes in Brazil can create uncertainty and affect investor sentiment towards Brazilian assets.

ESG Factors: Environmental, social, and governance (ESG) considerations are increasingly important to investors and can affect demand for Natura &Co shares.

Dividend Policy: Natura &Co's dividend payouts and policies can influence investor interest and stock price.

Investor Sentiment: News, rumors, and overall market psychology can drive short-term price fluctuations in E2NP34.SA.