FX.co ★ Brazilian Stocks Ease Amid Venezuela Developments

On Monday, the Ibovespa experienced a slight decline, driven by uncertainties surrounding the potential market impact following Venezuelan President Nicolás Maduro's capture by the United States. Banking sector stocks showed a downward trend, with Itaú dropping approximately 0.2%, and Banco do Brasil shedding over 1%. The utilities sector also faced challenges; Aegea decreased by more than 1%, and Sabesp fell by 0.2%. Copel saw a reduction of roughly 0.7%, prompted by news of a planned outage affecting 214 consumer units, although a postponement might occur if adverse weather conditions arise in Curitiba’s Industrial City. Meanwhile, Petrobras experienced a modest slip, even after OPEC+’s decision to maintain stable output levels. Conversely, Vale benefited from an increase of over 0.6%, buoyed by rising iron ore prices in China. This rise was attributed to steel manufacturers boosting their inventories in anticipation of the Lunar New Year and a tight domestic supply, which offered additional backing.