Ibovespa falls on Wednesday, the 26th, as investors reflect on third-quarter results and political turmoil ahead of the second round of presidential elections.
The drop is the third in a row for the main B3 index and contrasts with highs last week when President Jair Bolsonaro’s advance in the polls boosted the price of state-owned companies on the stock market.
The day before, Ibovespa fell by 1.20%, and the accumulated decline in the week exceeded 4%.
With lower optimism of a Bolsonaro turnaround this week, shares of Petrobras fell for a third day in a row, putting downward pressure on Ibovespa.
The decline, however, eased throughout the day.
Together with the rise in Vale’s shares, the move reduces the downward trend of the Ibovespa.
