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Ibovespa Steadies as Rising Yields and Bank Earnings Drag Counter Commodity Support

A drop in September retail sales sharpened growth concerns.

Overview

  • The index hovered around 157.7 thousand points in morning trade, swinging between 157,404 and 158,319.
  • Long-dated Brazilian yields climbed after a Treasury megaleilão, adding pressure to equities.
  • Banco do Brasil posted adjusted third-quarter profit of R$3.785 billion, a roughly 60% annual decline tied to agribusiness delinquencies and heavier provisions, sending its shares lower.
  • Gains in iron ore and oil lifted Vale and Petrobras, yet the commodity strength was not enough to lift the broader benchmark.
  • U.S. stocks fell at the open, led by technology, as uncertainty persisted over delayed economic releases following the shutdown, with officials cautioning some reports may not be published.