The Ibovespa falls on Wednesday, 26, with investors reflecting third quarter results and political unrest ahead of the second round of presidential elections.
The drop is the third consecutive for B3’s leading index and contrasts with last week’s highs when President Jair Bolsonaro’s advance in polls boosted the price of state-owned companies on the stock exchange.
The day before, the Ibovespa fell 1.20%, and the accumulated drop in the week exceeded 4%.
With the lower optimism of a Bolsonaro turnaround this week, Petrobras shares fell for the third day in a row, pressuring the Ibovespa downwards.
The falls, however, were softened throughout the day.
Along with the rise of Vale’s shares, the movement reduces the downward trend of Ibovespa.