São Paulo stock exchange falls 0.19% in its fifth consecutive decline

Brazil's main stock market index, the Ibovespa, experienced a slight decline of 0.19% on Monday, extending its losing streak to five consecutive sessions. The benchmark index closed at 172,179 points, reflecting a cautious market sentiment.

Despite the broader market downturn, the oil sector provided a bright spot. State-owned oil company Petrobras saw its shares rise by 3.3%, benefiting from elevated international crude oil prices, which are being sustained by the ongoing conflict in the Middle East. Private oil companies PRIO and Petrorecôncavo also experienced significant gains, rising 6.6% and 4.9% respectively.

Conversely, the travel agency CVC and energy firm Cosan faced the steepest losses, with their shares dropping 6.5% and 5.9%. In currency markets, the Brazilian real weakened against the U.S. dollar, depreciating by 0.53% to trade at 5.11 reais per dollar. The total trading volume for the session reached over 24.29 billion reais (approximately $4.75 billion) across 3.5 million transactions.