IBOV 177,285 ▲ 2.63% IPSA 10,977 ▼ 0.44% IPC MEX 66,561 ▲ 0.69% MERVAL 3,246,203 ▲ 1.36% COLCAP 2,288.61 ▼ 0.18% BVL PERÚ 56,194.27 ▲ 1.32% USD/BRL5.10▼ 0.22% USD/MXN17.47▼ 0.42% USD/CLP924.50▼ 0.34% USD/COP3,238▼ 3.14% USD/PEN3.39▼ 0.36% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.20% USD/PYG6,055▲ 1.53% USD/BOB10.14▲ 4.01% USD/DOP58.48▼ 0.12% USD/CRC448.82▲ 1.40% USD/GTQ7.63▲ 2.28% USD/HNL26.72▲ 1.50% USD/NIO36.62▲ 0.26% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.07▲ 0.80% USD/TTD6.75▲ 1.32% EUR/BRL5.83▼ 1.07% BRENT 75.87 ▼ 0.56% WTI 71.35 ▼ 1.01% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.04% GOLD 4,113 ▼ 0.43% SILVER 60.06 ▼ 0.53% SOY 1,191 ▲ 0.97% CORN 459.25 ▲ 7.36% WHEAT 636.75 ▲ 4.17% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 142.70 ▼ 4.80% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 234.88 ▼ 0.16% CATTLE 354.00 ▼ 0.60% LITHIUM 72.36 ▼ 0.64% PETR4 39.53 ▲ 0.82% VALE3 74.50 ▲ 1.85% ITUB4 44.02 ▲ 3.36% BBDC4 18.71 ▲ 3.94% ABEV3 15.80 ▲ 0.51% BBAS3 20.58 ▲ 2.90% B3SA3 15.45 ▲ 4.46% WEGE3 46.52 ▲ 1.71% PRIO3 55.40 ▼ 0.38% SUZB3 41.50 ▲ 1.15% RENT3 40.84 ▲ 3.65% AZZA3 19.29 ▲ 4.50% CSAN3 4.04 ▲ 4.66% RAIZ4 0.36 ▼ 2.70% PCAR3 2.76 — 0.00% GMAT3 3.98 ▲ 1.27% PSSA3 54.23 ▲ 1.65% CVCB3 1.26 ▲ 0.80% POSI3 3.98 ▲ 3.38% SLCE3 14.03 ▲ 1.74% NATU3 8.59 ▲ 1.54% BRKM5 6.63 ▲ 4.25% RANI3 8.00 ▲ 1.78% CSNA3 5.17 ▲ 7.71% CMIN3 5.11 ▲ 5.80% USIM5 8.45 ▲ 1.20% GGBR4 22.92 ▲ 1.96% ENEV3 27.36 ▲ 4.43% CPFE3 47.50 ▲ 2.61% CMIG4 11.32 ▲ 2.17% EQTL3 40.67 ▲ 2.94% LREN3 14.83 ▲ 4.81% VIVT3 35.60 ▲ 3.19% RAIL3 14.07 ▲ 2.33% KLABIN 17.51 ▲ 0.63% RAIA DROGASIL 18.90 ▲ 4.25% RDOR3 36.08 ▲ 2.65% HAPV3 10.63 ▲ 5.56% FLRY3 16.35 ▲ 3.81% SMTO3 16.12 ▲ 0.44% UGPA3 30.60 ▲ 1.66% VBBR3 32.80 ▲ 2.18% BBSE3 40.08 ▲ 2.04% BPAC11 58.05 ▲ 4.26% CURY3 33.93 ▲ 3.76% AERI3 2.08 ▲ 0.97% VIVARA 23.44 ▲ 3.81% COMPASS 25.17 ▲ 1.99% VAMOS 3.09 ▲ 4.39% SANB11 27.34 ▲ 4.15% ASAI3 8.87 ▲ 4.85% SBSP3 30.97 ▲ 3.23% WALMEX 49.22 ▲ 0.41% GMEXICO 198.25 ▲ 1.49% FEMSA 223.44 ▲ 0.48% CEMEX 21.87 ▲ 0.74% GFNORTE 188.00 ▲ 1.43% BIMBO 55.91 ▼ 0.04% TELEVISA 9.65 ▲ 1.69% AMX 22.99 ▲ 1.55% GAP 411.06 ▼ 0.64% ASUR 285.89 ▲ 0.80% OMA 235.43 ▼ 1.08% KOF 182.18 ▲ 0.71% GRUMA 282.90 ▲ 0.22% KIMBER 38.30 ▼ 0.36% SQM-B 67,850 ▼ 1.81% COPEC 6,004 ▼ 0.27% BSANTANDER 78.42 ▲ 1.19% FALABELLA 5,900 ▲ 0.83% ENELAM 85.22 ▲ 1.26% CENCOSUD 2,021 ▼ 1.73% CMPC 1,112 ▲ 1.58% BANCO CHILE 188.33 ▲ 0.71% LATAM AIR 26.12 ▼ 1.06% YPF 74,000 ▼ 2.34% GGAL 8,210 ▲ 4.19% PAMPA 5,180 ▼ 0.48% TXAR 665.50 ▲ 0.15% ALUAR 974.00 ▲ 0.57% TGS 9,500 ▲ 2.04% CEPU 2,346 ▲ 1.34% MIRGOR 17,000 ▼ 1.16% COME 45.86 ▲ 0.97% LOMA NEGRA 3,535 ▲ 1.07% BYMA 310.75 ▲ 0.32% TELECOM ARG 4,160 ▲ 0.97% ECOPETROL 15.61 ▲ 1.43% BANCOLOMBIA 83.50 ▲ 3.18% GRUPO AVAL 5.13 ▲ 2.09% CREDICORP 401.17 ▲ 2.36% SOUTHERN COPPER 176.38 ▲ 1.12% BUENAVENTURA 30.26 ▲ 2.40% MERCADOLIBRE 1,879 ▲ 3.94% NUBANK 13.91 ▲ 1.72% XP 17.02 ▲ 3.69% PAGSEGURO 9.31 ▲ 3.39% STONE 11.25 ▲ 2.60% GLOBANT 30.08 ▼ 3.88% TECNOGLASS 44.08 ▲ 2.18% GAP AIRPORT 235.78 ▲ 0.56% ASUR 285.89 ▲ 0.80% OMA AIRPORT 108.23 ▼ 0.09% AMX ADR 26.27 ▲ 1.66% FEMSA ADR 127.57 ▲ 0.45% CEMEX ADR 12.52 ▲ 1.17% PETROBRAS ADR 17.21 ▲ 1.06% VALE ADR 14.55 ▲ 2.29% ITAU ADR 8.62 ▲ 4.05% SANTANDER BR 5.41 ▲ 5.16% AMBEV ADR 3.08 ▲ 1.15% CSN 1.03 ▲ 7.36% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.50 ▼ 0.95% BTC 63,864 ▲ 1.06% ETH 1,790 ▲ 2.58% SOL 77.73 ▼ 0.40% XRP 1.10 ▲ 0.76% BNB 576.19 ▲ 1.36% ADA 0.17 ▲ 0.11% DOGE 0.07 ▲ 1.51% AVAX 6.74 ▲ 0.85% LINK 7.92 ▲ 2.47% DOT 0.88 ▲ 6.78% LTC 44.52 ▲ 1.72% BCH 247.32 ▲ 4.02% TRX 0.33 ▼ 0.49% XLM 0.19 ▲ 1.82% HBAR 0.07 ▲ 0.17% NEAR 1.90 ▼ 0.91% ATOM 1.58 ▲ 1.82% AAVE 95.25 ▲ 4.38% SELIC 14.25% EMBRAER 84.92 ▲ 1.26% EMBRAER ADR 66.56 ▲ 1.56% JBS 11.86 ▲ 1.11% JBS BDR 60.51 ▲ 0.77% MBRF3 15.80 ▲ 2.53% MBRFY 3.04 ▲ 1.33% INTER 5.88 ▲ 2.89% EGX 52,312 ▲ 0.54% USD/ZAR16.31▼ 0.12% USD/NGN1,376▼ 0.12% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY161.57▼ 0.50% USD/CNY6.76▼ 0.42% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD1.14▼ 0.04% GBP/USD 1.3404 — 0.00% SPX 7,566 ▲ 0.30% DJI 52,623 ▲ 0.26% NDX 29,836 ▲ 0.37% RUT 2,976 ▼ 0.55% TSX 35,233 ▲ 0.09% VIX 15.32 ▼ 3.28% USD/CAD1.41▼ 0.20% US10Y 4.5650 ▲ 0.57% IBOV 177,285 ▲ 2.63% IPSA 10,977 ▼ 0.44% IPC MEX 66,561 ▲ 0.69% MERVAL 3,246,203 ▲ 1.36% COLCAP 2,288.61 ▼ 0.18% BVL PERÚ 56,194.27 ▲ 1.32% USD/BRL 5.10 ▼ 0.22% USD/MXN 17.47 ▼ 0.42% USD/CLP 924.35 ▼ 0.36% USD/COP 3,238 ▼ 3.14% USD/PEN 3.39 ▼ 0.36% USD/ARS 1,487 ▼ 0.03% USD/UYU 40.22 ▲ 1.20% USD/PYG 6,055 ▲ 1.53% USD/BOB 10.14 ▲ 4.01% USD/DOP 58.48 ▼ 0.12% USD/CRC 448.82 ▲ 1.40% USD/GTQ 7.63 ▲ 2.28% USD/HNL 26.72 ▲ 1.50% USD/NIO 36.62 ▲ 0.26% USD/VES 707.92 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 158.07 ▲ 0.80% USD/TTD 6.75 ▲ 1.32% EUR/BRL 5.83 ▼ 1.08% BRENT 75.87 ▼ 0.56% WTI 71.35 ▼ 1.01% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.04% GOLD 4,113 ▼ 0.43% SILVER 60.06 ▼ 0.53% SOY 1,191 ▲ 0.97% CORN 459.25 ▲ 7.36% WHEAT 636.75 ▲ 4.17% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 142.70 ▼ 4.80% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 234.88 ▼ 0.16% CATTLE 354.00 ▼ 0.60% LITHIUM 72.36 ▼ 0.64% PETR4 39.53 ▲ 0.82% VALE3 74.50 ▲ 1.85% ITUB4 44.02 ▲ 3.36% BBDC4 18.71 ▲ 3.94% ABEV3 15.80 ▲ 0.51% BBAS3 20.58 ▲ 2.90% B3SA3 15.45 ▲ 4.46% WEGE3 46.52 ▲ 1.71% PRIO3 55.40 ▼ 0.38% SUZB3 41.50 ▲ 1.15% RENT3 40.84 ▲ 3.65% AZZA3 19.29 ▲ 4.50% CSAN3 4.04 ▲ 4.66% RAIZ4 0.36 ▼ 2.70% PCAR3 2.76 — 0.00% GMAT3 3.98 ▲ 1.27% PSSA3 54.23 ▲ 1.65% CVCB3 1.26 ▲ 0.80% POSI3 3.98 ▲ 3.38% SLCE3 14.03 ▲ 1.74% NATU3 8.59 ▲ 1.54% BRKM5 6.63 ▲ 4.25% RANI3 8.00 ▲ 1.78% CSNA3 5.17 ▲ 7.71% CMIN3 5.11 ▲ 5.80% USIM5 8.45 ▲ 1.20% GGBR4 22.92 ▲ 1.96% ENEV3 27.36 ▲ 4.43% CPFE3 47.50 ▲ 2.61% CMIG4 11.32 ▲ 2.17% EQTL3 40.67 ▲ 2.94% LREN3 14.83 ▲ 4.81% VIVT3 35.60 ▲ 3.19% RAIL3 14.07 ▲ 2.33% KLABIN 17.51 ▲ 0.63% RAIA DROGASIL 18.90 ▲ 4.25% RDOR3 36.08 ▲ 2.65% HAPV3 10.63 ▲ 5.56% FLRY3 16.35 ▲ 3.81% SMTO3 16.12 ▲ 0.44% UGPA3 30.60 ▲ 1.66% VBBR3 32.80 ▲ 2.18% BBSE3 40.08 ▲ 2.04% BPAC11 58.05 ▲ 4.26% CURY3 33.93 ▲ 3.76% AERI3 2.08 ▲ 0.97% VIVARA 23.44 ▲ 3.81% COMPASS 25.17 ▲ 1.99% VAMOS 3.09 ▲ 4.39% SANB11 27.34 ▲ 4.15% ASAI3 8.87 ▲ 4.85% SBSP3 30.97 ▲ 3.23% WALMEX 49.22 ▲ 0.41% GMEXICO 198.25 ▲ 1.49% FEMSA 223.44 ▲ 0.48% CEMEX 21.87 ▲ 0.74% GFNORTE 188.00 ▲ 1.43% BIMBO 55.91 ▼ 0.04% TELEVISA 9.65 ▲ 1.69% AMX 22.99 ▲ 1.55% GAP 411.06 ▼ 0.64% ASUR 285.89 ▲ 0.80% OMA 235.43 ▼ 1.08% KOF 182.18 ▲ 0.71% GRUMA 282.90 ▲ 0.22% KIMBER 38.30 ▼ 0.36% SQM-B 67,850 ▼ 1.81% COPEC 6,004 ▼ 0.27% BSANTANDER 78.42 ▲ 1.19% FALABELLA 5,900 ▲ 0.83% ENELAM 85.22 ▲ 1.26% CENCOSUD 2,021 ▼ 1.73% CMPC 1,112 ▲ 1.58% BANCO CHILE 188.33 ▲ 0.71% LATAM AIR 26.12 ▼ 1.06% YPF 74,000 ▼ 2.34% GGAL 8,210 ▲ 4.19% PAMPA 5,180 ▼ 0.48% TXAR 665.50 ▲ 0.15% ALUAR 974.00 ▲ 0.57% TGS 9,500 ▲ 2.04% CEPU 2,346 ▲ 1.34% MIRGOR 17,000 ▼ 1.16% COME 45.86 ▲ 0.97% LOMA NEGRA 3,535 ▲ 1.07% BYMA 310.75 ▲ 0.32% TELECOM ARG 4,160 ▲ 0.97% ECOPETROL 15.61 ▲ 1.43% BANCOLOMBIA 83.50 ▲ 3.18% GRUPO AVAL 5.13 ▲ 2.09% CREDICORP 401.17 ▲ 2.36% SOUTHERN COPPER 176.38 ▲ 1.12% BUENAVENTURA 30.26 ▲ 2.40% MERCADOLIBRE 1,879 ▲ 3.94% NUBANK 13.91 ▲ 1.72% XP 17.02 ▲ 3.69% PAGSEGURO 9.31 ▲ 3.39% STONE 11.25 ▲ 2.60% GLOBANT 30.08 ▼ 3.88% TECNOGLASS 44.08 ▲ 2.18% GAP AIRPORT 235.78 ▲ 0.56% ASUR 285.89 ▲ 0.80% OMA AIRPORT 108.23 ▼ 0.09% AMX ADR 26.27 ▲ 1.66% FEMSA ADR 127.57 ▲ 0.45% CEMEX ADR 12.52 ▲ 1.17% PETROBRAS ADR 17.21 ▲ 1.06% VALE ADR 14.55 ▲ 2.29% ITAU ADR 8.62 ▲ 4.05% SANTANDER BR 5.41 ▲ 5.16% AMBEV ADR 3.08 ▲ 1.15% CSN 1.03 ▲ 7.36% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.50 ▼ 0.95% BTC 63,864 ▲ 1.06% ETH 1,790 ▲ 2.58% SOL 77.73 ▼ 0.40% XRP 1.10 ▲ 0.76% BNB 576.19 ▲ 1.36% ADA 0.17 ▲ 0.11% DOGE 0.07 ▲ 1.51% AVAX 6.74 ▲ 0.85% LINK 7.92 ▲ 2.47% DOT 0.88 ▲ 6.78% LTC 44.52 ▲ 1.72% BCH 247.32 ▲ 4.02% TRX 0.33 ▼ 0.49% XLM 0.19 ▲ 1.82% HBAR 0.07 ▲ 0.17% NEAR 1.90 ▼ 0.91% ATOM 1.58 ▲ 1.82% AAVE 95.25 ▲ 4.38% SELIC 14.25% EMBRAER 84.92 ▲ 1.26% EMBRAER ADR 66.56 ▲ 1.56% JBS 11.86 ▲ 1.11% JBS BDR 60.51 ▲ 0.77% MBRF3 15.80 ▲ 2.53% MBRFY 3.04 ▲ 1.33% INTER 5.88 ▲ 2.89% EGX 52,312 ▲ 0.54% USD/ZAR 16.30 ▼ 0.04% USD/NGN 1,376 ▲ 0.08% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY 161.54 ▼ 0.51% USD/CNY 6.7643 ▼ 0.40% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD 1.1427 ▼ 0.06% GBP/USD 1.3404 — 0.00% SPX 7,566 ▲ 0.30% DJI 52,623 ▲ 0.26% NDX 29,836 ▲ 0.37% RUT 2,976 ▼ 0.55% TSX 35,233 ▲ 0.09% VIX 15.32 ▼ 3.28% USD/CAD 1.4134 ▼ 0.23% US10Y 4.5650 ▲ 0.57%
since 2009
Friday, July 10, 2026

When A Brazilian Giant Falls Apart: The Night Fluminense Crushed São Paulo

By · November 28, 2025 · 2 min read

Daily Brief

The morning intel from across Latin America. Free.

By subscribing you agree to our privacy policy. We never share your email.

To outsiders, a 6–0 football score might sound like just another bad day at the office. In Brazil, Fluminense’s six-goal demolition of São Paulo at the Maracanã was closer to a public audit, live on television, of how two big clubs are being run.

On one side was Fluminense, coached by Argentine Luis Zubeldía. Not long ago, he was in charge at São Paulo, but the board let him go and bet on another Argentine, Hernán Crespo, to lead a “new project.”

One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →

On Thursday night, the coach they had discarded came back with a team that looked organised, hungry and clear about what it wanted to do.

The game itself was brutal. Early on, right-back Samuel Xavier crossed the ball, defender Alan Franco handled it, and winger Agustín Cannobio scored from the penalty spot.

Soon after, midfielder Pablo Maia gave the ball away in front of his own area, and Martinelli punished the mistake. A second bad pass, this time from Ferraresi, opened the door for Nonato to make it 3–0 before 25 minutes. São Paulo’s defensive system simply fell apart.

When A Brazilian Giant Falls Apart: The Night Fluminense Crushed São Paulo
When A Brazilian Giant Falls Apart: The Night Fluminense Crushed São Paulo. (Photo Internet reproduction)
RT
Ask Rio Times
17 years of Latin America reporting, on demand.
Open the full Ask Rio Times →

In the second half, Fluminense controlled the tempo and waited for more chances. John Kennedy drilled in the fourth goal, Cannobio ran behind a disorganised back line to score again, and Kevin Serna finished the rout: 6–0, Fluminense’s biggest win over São Paulo in history.

More than 30,000 fans celebrated in the stands, and the club booked at least a place in next year’s Copa Libertadores qualifiers. São Paulo did have problems before the first whistle.

The team was missing 14 players through injury or suspension, including several starters. But the size of the defeat made it hard to blame only bad luck.

Commentators and fans pointed to a deeper issue: years of mixed messages from the boardroom, short-term gambles and a thin squad that cannot cope when pressure and injuries hit.

For expats and foreign observers, this match is a window into Brazil beyond football. Clubs that value planning, discipline and clear responsibility can turn talent into results. Those that live on improvisation and emotion risk collapse the moment a serious test arrives.

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.