FX.co ★ Ibovespa Pulls Back From Record Highs

On Monday, the Ibovespa index declined by 0.5%, closing at 156,993, as fresh economic data and a reassessment of global interest rates highlighted domestic vulnerabilities. The IBC-Br index registered a 0.2% decrease in September compared to the previous month, signaling a slowdown in economic activity. Meanwhile, hawkish remarks from several U.S. Federal Reserve officials diminished the likelihood of an imminent rate cut in the United States, consequently raising local yields. This pressured financial institutions such as Santander and Bradesco, which saw their shares slide by approximately 1%. The utilities sector underperformed, with Axia dropping 2.6% and Sabesp declining by 3%. Ambipar experienced a 3.5% decrease after entering judicial recovery, and Raízen fell by 2.3% following the announcement of a R$2.3 billion net loss for the second quarter of the 2025/26 harvest. In contrast, Petrobras defied the trend, posting a slight increase of 0.3%.