Ibovespa Dips After Copom Minutes

The Ibovespa fell nearly 1% to the 185,000 mark on Tuesday following the release of the minutes from Copom’s latest meeting. The committee noted that although monetary policy is contributing decisively to the disinflation process, price growth remains supported by strong aggregate demand, requiring monetary policy to remain restrictive. Policymakers also pointed out that economic activity has continued to moderate. Major banks posted losses, with Itaú and Bradesco down nearly 1.5%. Petrobras shed 1% on lower oil prices. Other notable laggards included Ambev (-1%) and Rede D’Or (-1%). Vale and Axia limited losses as Vale confirmed the acquisition of a 30% stake in Ligga and Axia approved a new redemption of Class C preferred shares. Meanwhile, JBS (+0.5%) requested cancellation of its public-company registration.