Ibovespa Dips on Weak Activity Data and Blue-Chip Losses

Trading Economics

Hang Seng TECH Index

-0.97%

Hang Seng China Enterprises Index

The Ibovespa fell 0.3% to below 142,500 on Thursday, dragged down by declines in major blue-chip stocks.

Petrobras, Vale, Banco do Brasil, and Santander Brasil each slipped around 0.5%, while Centrais Elétricas Brasileiras dropped over 1% after rallying more than 2% in the previous session.

Sentiment was also hurt by disappointing economic data: the central bank’s IBC-Br index, a key gauge of GDP, rose just 0.4% in August from July, missing forecasts of 0.6%.

The data pointed to slower momentum in industry and services and a sharp decline in agriculture, suggesting a weaker growth outlook.

On the upside, WEG climbed 1.7% after signing binding agreements to acquire 54% of Tupinambá Energia for R$38 million.

The EV charging technology firm operates the Tupi app, one of Brazil’s largest electric mobility platforms, connecting over 370,000 users to charging networks nationwide.

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Ibovespa Dips on Weak Activity Data and Blue-Chip Losses

Risk Disclosure