FX.co ★ Ibovespa Closes Marginally Lower

The Ibovespa trimmed most of its early losses to finish 0.1% down at 157,981 on Tuesday. The session was initially affected by the reemergence of the "Flávio Bolsonaro risk," which revived political uncertainties and led to profit-taking. However, buying intensified in the afternoon as traders adjusted their positions in anticipation of the upcoming decisions from the Copom and Fed on Wednesday. The decline was mainly driven by significant banks, with Santander and Bradesco dropping by 2.1% and 1.0% respectively. On a positive note, Eletrobras advanced 1.5% after announcing a R$30 billion capital increase and a stock bonus issue, with the new shares to be allocated based on holdings as of the record date, December 19, 2025. Embraer also performed well, surging approximately 3.0% following the approval of R$79.7 million in JCP and interim dividends of R$80.0 million. Investor focus has now shifted to central bank directions rather than new domestic data, with participants seeking insights into rate forecasts and fiscal stability.