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2026-10-31 06:52:24
[Ibovespa Posts Worst Weekly Performance Since Pandemic] On Friday, the Ibovespa fell 0.7% to close at 167,922 points, marking its fifth consecutive day of decline and its worst weekly performance since the peak of the pandemic in March 2020. The index had previously risen in early October on market bets on a change of government and fiscal adjustments. However, Lula's re-election triggered the unwinding of these positions, while concerns surrounding public spending and debt prolonged the selling pressure. This shift particularly affected companies sensitive to credit conditions and consumer spending. Bank stocks fell, with Bradesco and Itaú each dropping 2.1%. Steel companies suffered significant losses, with CSN plunging 8.5%. In contrast, Vale shares, which had fallen more than 11% this month, rose 3.3% on Friday, despite the company reporting a third-quarter net loss, although its copper business helped offset cost pressures from iron ore and nickel. Petrobras also rose 1%, following oil price movements. The Ibovespa is down 17.3% this week and 10% this month.
