Ibovespa Slips in Thin Year-End Trade
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The Ibovespa index fell below 161,000 on Monday, driven by losses in banking and utility sectors. Notable declines included Bradesco down 0.5% and Azul down over 2% after a significant share issuance. Utilities like Axia and Sabesp also saw losses. Conversely, Petrobras and Vale gained 0.9% and 0.6%, respectively, due to rising oil and iron ore prices. Market expectations remain for the Brazilian central bank to resume rate cuts next year following a surprising easing in the IPC-M price index, indicating a 1.05% deflation rate for the year.
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