FX.co ★ Ibovespa Gains on Softer Inflation

On Friday, the Ibovespa index saw an increase of over 0.5%, closing at 146,500 points. This uptick was driven by inflation data from both Brazil and the United States that came in below expectations. In Brazil, the mid-month inflation rate dropped to below 5%, while in the U.S., the October inflation figures were slightly under projections. The banking sector saw improvements, with Itaú rising 0.7% and Bradesco increasing by 0.6%. The utilities sector also performed well, evidenced by gains for Sabesp, which rose by 1.7%, and Eneva, which climbed 3.7%. Telefônica Brasil saw a 1.4% boost following the antitrust approval of its acquisition of Fibrasil. Meanwhile, Azul's stock surged by 3.5% due to an improved leverage outlook following Chapter 11 proceedings. Cosan's shares advanced 1.6% following the approval of a R$1.45 billion share offering. Copasa's stock jumped 2.6% after Minas Gerais advanced a crucial step toward its privatization. Furthermore, Petrobras experienced a 0.8% rise ahead of its scheduled production report, and Braskem's shares increased by 2.2% after it approved an expansion of capacity in Rio. Conversely, Usiminas encountered a downturn, with its stock dropping by 1.4% following a reported quarterly loss of R$3.5 billion.