Ibovespa Closes Muted, Below 142,000
The Ibovespa index edged down to 141,710 on Tuesday as investors remained cautious ahead of the anticipated release of US inflation data, with many in the market predicting at least a 25-basis-point rate cut. Domestically, the Supreme Court resumed proceedings in the trial of former President Jair Bolsonaro concerning an alleged coup attempt, heightening political uncertainty. Vale shares declined by 0.3%, despite expectations that Chinese steel mills might increase production capacity, which could potentially benefit the iron ore market. Conversely, Petrobras stock increased by 0.8%, following a rise in crude oil prices due to Israeli strikes in Qatar. In the banking sector, stocks mostly fell amid worries that a guilty verdict for Bolsonaro might lead to US sanctions on certain Brazilian judges and politicians' accounts.
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