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The Ibovespa fell more than 1% on Friday, slipping below 185,500 points, dragged down chiefly by heavyweight Vale. The mining giant lost nearly 3% after reporting a net loss of $3.8 billion in the fourth quarter, a sharp widening from the $694 million loss recorded a year earlier. The result was driven by accounting write-downs, despite firm iron ore and copper sales.
Petrobras retreated over 1% as oil prices weakened on expectations of a substantial supply surplus, rising inventories, and easing tensions between the United States and Iran. Ambev dropped 2% even after slightly topping market forecasts, as both revenue and profit fell 8%.
Banco do Brasil declined more than 2% after recognizing a R$3.6 billion loss tied to Braskem shares (-1.2%) that had been pledged as collateral by Novonor. On the macroeconomic front, retail sales fell 0.4% month-on-month in December 2025. Among individual movers, Raia Drogasil and C&A each lost more than 1%, while Raízen slid 3%.
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