13.01.202614:48:02UTC+00Brazilian Stocks Inch Down for 2nd Session

On Tuesday, the Ibovespa index in Brazil experienced a slight decline, mirroring a minor drop from the previous session. The gains observed in resource-linked giants were not sufficient to counterbalance widespread losses across other sectors on the exchange. Bank stocks, including Bradesco, Banco do Brasil, and Itausa, continued their downward trend, falling between 0.5% and 1%. The market maintained the expectation that the Brazilian central bank would keep its key policy rate unchanged at its recent peak, consequently limiting any immediate surge in credit activity. Conversely, Petrobras saw its shares rise approximately 0.7%, in line with another session of increases in crude oil benchmark prices. Furthermore, Vale's stocks increased by over 0.5% following Capital World Investors' decision to grow its stake in the mining giant, bringing its share above 5%.