FX.co ★ Ibovespa Rises as Airlines Surge After Merger Break

On Friday, the Ibovespa index rose slightly, surpassing 145,500, as investors digested recent corporate developments and continued to evaluate the global interest rate environment. Airline stocks experienced notable gains following the termination of the proposed merger between Gol and Azul. Gol's stock climbed over 7%, while Azul's surged more than 15%. Previously, Brazil's antitrust authority had urged both companies to formalize their codeshare agreement and cautioned against announcing a merger prematurely. Subsequently, both airlines confirmed the dissolution of their codeshare agreement. Petrobras saw an increase of 1%, and significant growth was recorded among major banks; Itaú rose by 0.3% and Bradesco by 0.4%. Retailers also performed well, with Magazine Luiza advancing by 2% and GPA gaining 4.5%. Conversely, Braskem's stock fell by more than 7% after UBS downgraded it to a “neutral” rating due to disappointing financial performance and a challenging sector outlook. The company has engaged advisors to consider alternative capital structure options. Additionally, Vale's stock declined by 1.4% amid falling iron ore prices.