FX.co ★ Ibovespa Edges Higher on Friday

On Friday, the Ibovespa index experienced a slight increase of 0.1%, closing at 145,447 points. This uptick was primarily due to gains in major banking stocks, which managed to offset the decline observed in commodity-related giants as markets processed corporate developments and the global interest rate outlook. Key banking institutions such as Banco do Brasil, Santander, Itaúsa, and Bradesco saw their shares rise between 0.7% and 2.0%, contributing to the index’s overall performance. Airline stocks performed particularly well following the cancellation of the Gol Azul merger, with a subsequent formal termination of their codeshare agreements. This regulatory pressure resulted in Gol's shares climbing by 5.3% and Azul's soaring by 17.1%. Conversely, the share prices of Petrobras and Vale dropped by 0.9% and 2.2% respectively, as they faced headwinds from the commodities sector. Additionally, Braskem witnessed a substantial decline of over 7.0% in its stock after UBS downgraded its rating to neutral, citing disappointing financial results and a challenging industry environment.