FX.co ★ Brazil Stocks Edge Lower

The Ibovespa experienced a slight decline on Tuesday, dipping below the 136,400 mark after a subdued session the previous day. This downturn was driven by investor concerns over fiscal uncertainty and external pressures. Market participants are closely monitoring developments regarding a potential resolution to the deadlock surrounding the Financial Transactions Tax increase, eagerly awaiting new statements from the Finance Minister. Economic indicators were also under scrutiny, as Brazil's industrial production showed lackluster performance in April, and China's May PMI figures fell short of expectations. Additionally, the OECD revised its global growth forecasts downward for the second time this year, attributing the adjustment to trade policy concerns. In early trading, airline stocks recorded gains, with Gol rising by 4.7%. Most major banks saw an increase at the opening, though Banco do Brasil declined by 0.13%. The supermarket sector experienced mixed results, with Assaí climbing 0.7% while GPA slid by 0.33%.