FX.co ★ Ibovespa Falls on Corporate News

On Monday, the Ibovespa slipped below the 144,000 mark, largely due to adverse corporate developments overshadowing gains in the commodity sector. GPA fell by 2.3% ahead of its board elections, while Vibra saw a 1.5% decline following significant changes to its Executive Board. Ambipar experienced a hefty drop of nearly 18% amid escalating financial issues, including an injunction against creditors and reported irregularities in a Receivables Investment Fund holding a portion of its cash. The company has alerted about a potential shortfall of R$10 billion. Conversely, Petrobras saw a slight increase as oil prices rose despite OPEC+'s smaller-than-anticipated output hikes. Similarly, Vale climbed by 1%, and CSN advanced by 3% as the market continued to deliberate whether China's shift away from BHP would favor Brazil's ferrous metals sector. Embraer also posted a gain of 1.7% following the sale of four aircraft to the Swedish Air Force. Additionally, the Central Bank of Brazil's Focus Survey indicated that investors have moderated their inflation expectations.