Brazil Stocks Slide as Bovespa Closes Down 1.19%
Brazil's Bovespa stock index closed Monday down 1.19% as oil volatility, caution ahead of US inflation data and a weaker real weighed on sentiment. Banking and mining shares led the decline. Foreign investor flows have stayed defensive amid a rocky global backdrop.
The Bovespa opened above 132,000 on Monday but traded with a heavy bias and closed 1.19% lower. The main pressure was a short-term risk-off rotation out of emerging markets ahead of Tuesday's US CPI release.
Banks and miners led declines. Itaú and Bradesco each fell more than 1%; Vale dropped 1.8% on softer Chinese demand indicators; Petrobras ended down 0.9% as oil corrected.
The real weakened 0.5% against the dollar. Investors await the US inflation print and minutes from Brazil's central bank meeting due Friday, plus Lula's new fiscal-framework proposal.
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