São Paulo stock exchange extends losing streak to seven days

The São Paulo stock exchange experienced its seventh consecutive day of losses, closing Wednesday with a 0.23% decline. The Ibovespa, the benchmark index for Latin America's main stock market, ended the session at 167,491 points.

The market's performance coincided with the release of data indicating a gradual slowdown in Brazil's domestic economic activity, particularly within the services sector, which is a key pillar of the country's economy.

Among the most actively traded stocks, state-owned oil company Petrobras saw its preferred shares fall by 0.6%. The petrochemical company Braskem (-7.8%) and the construction firm Direcional (-4.7%) registered the most significant losses of the day. On the other hand, mining company CSN (+3.9%) and aerospace manufacturer Embraer (+4%) were among the top gainers.

In the foreign exchange market, the Brazilian real depreciated by 0.36% against the U.S. dollar. The dollar closed trading at 5.178 Brazilian reals for buying and 5.179 reals for selling on the commercial exchange rate. Trading volume for the day exceeded 52.795 billion reais (approximately $10.17 billion) across 3.8 million transactions.