FX.co ★ Ibovespa Falls on External Caution

The Ibovespa index experienced a decline of nearly 0.5%, dipping below the 156,000 mark on Wednesday, as global equity markets exhibited cautious sentiment and investors scrutinized updates within Brazil's mining sector. Companhia Siderúrgica Nacional (CSN) witnessed minor declines after S&P placed its credit rating on watch for a potential downgrade due to slower-than-anticipated debt reduction. Furthermore, CSN disclosed ongoing negotiations with CSN Mineração—whose shares fell by 2.5%—regarding the potential sale of a portion of its interest in the MRS railway. Petrobras shares decreased by 0.7% amidst a slump in oil prices. The financial sector saw a downturn as well, with Itaú experiencing a 0.2% reduction and Bradesco a 0.7% decline. Utilities sector stocks such as Axia Energia and Sabesp both registered a decrease of 0.5%. Conversely, Vale gained some ground, buoyed by rising iron ore prices in China, and Ambev saw a minor uptick of 0.2%.