FX.co ★ Ibovespa Edges Down amid Fiscal Concern

On Friday, the Ibovespa index experienced a slight decline, settling near 141,500 points, as investors assessed the implications of rejecting an alternative to the previously dismissed IOF tax increase proposal. This proposal focused on adjusting taxation related to financial investments and digital assets. On the international stage, markets responded to the news of a ceasefire between Israel and Hamas, which led to a reduction in oil prices and a corresponding decline in Petrobras shares by 0.8%. Shares in Ambipar, on the other hand, surged more than 50% after a court ruled in its favor against Bradesco, dismissing allegations of creditor fraud due to insufficient evidence. Meanwhile, Vale saw a 1% uptick as iron ore prices rose, whereas CSN, a steel manufacturer, faced a 2.3% drop prompted by environmental concerns and a pessimistic forecast from Morgan Stanley, which predicted losses and no dividend distributions until 2028. Additionally, a report from the Federal Police highlighted the potential environmental risk posed by CSN's waste accumulation, warning of a possible "environmental catastrophe."