By Brazil Stock Guide – Brazil’s Ibovespa Index (IBOV) notched its 13th consecutive gain on Friday (7), closing at a record 154,063.53 points, up 0.47%. The rally marks the longest winning streak since 1994 and the tenth record high in a row, according to Money Times. The previous record was 153,338.63 points, reached in the prior session. For the week, the Ibovespa rose 3.02%.
The session was dominated by Petrobras (PETR4; PETR3), whose shares surged more than 3% after the release of its third-quarter results. The state-controlled oil company reported a net income of $6.03 billion between July and September, up 2.7% compared with the same period a year earlier, even with a 13.9% drop in oil prices from the third quarter of 2024.
The company’s board of directors approved interim dividends totaling R$12.16 billion, equivalent to R$0.94 per common and preferred share, reinforcing investor confidence and helping the index extend its record-breaking run.
Outside Petrobras, MBRF (MBRF3) led the day’s gains after China authorized the import of Brazilian chicken meat, a move seen as positive for Brazil’s agribusiness sector. On the downside, Cogna (COGN3) shares fell following strong gains in recent weeks and quarterly results slightly above expectations. Still, Cogna remains the best-performing Ibovespa stock of 2025, with a year-to-date gain of more than 230%.
The U.S. dollar (USDBRL) weakened 0.25% to R$5.3357. Over the week, the currency declined 0.83% against the real.
Domestic Developments
At the COP30 summit, President Luiz Inácio Lula da Silva said Brazil will create a fund financed by oil exploration revenues to support adaptation efforts against climate change impacts.
Meanwhile, Brazil’s Supreme Federal Court (STF) formed a majority to reject former President Jair Bolsonaro’s appeal against his conviction for attempting a coup d’état and other related crimes.
In economic data, the IGP-DI inflation index fell 0.03% in October, following a 0.36% rise in September. The drop was smaller than market expectations, according to a Reuters survey.
Global Markets
In the U.S., Wall Street closed mixed amid concerns over the ongoing government shutdown, the longest in history, which has prevented the release of key data such as the official payroll report.
Consumer confidence in the U.S. also fell sharply. The University of Michigan’s Consumer Sentiment Index dropped to 50.3, the lowest level since June 2022, from 53.6 in October. Economists surveyed by Reuters had expected a reading of 53.2.
“The rapid concentration of investments in AI companies created a latent vulnerability: any sign of slowing profits, layoffs, or worsening economic indicators amplified corrections,” said Ricardo Trevisan, CEO of Gravus Capital.
On Wall Street, the Dow Jones rose 0.16%, the S&P 500 gained 0.13%, and the Nasdaq slipped 0.22%. In Europe, the Stoxx 600 fell 0.55%, while in Asia, Japan’s Nikkei dropped 1.19% and Hong Kong’s Hang Seng declined 0.92%.. European markets declined, with the Stoxx 600 down 0.55%, while Asian benchmarks also ended lower, led by a 1.19% drop in Japan’s Nikkei and a 0.92% loss in Hong Kong’s Hang Seng.
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