Brazil Markets: Ibovespa & the Real — August 29, 2026
Brazil's Ibovespa rose 0.30% to 175,665 points on Friday, an eighth straight gain, as Petrobras climbed 2.0% and the real weakened 0.67% to 5.1965 per US dollar. The post Brazil Markets: Ibovespa & the Real — August 29, 2026 appeared first on The Rio Times .
Brazil's stock market continued its upward trend on Friday, with the Ibovespa index climbing 0.30% to close at 175,665 points. Despite more shares falling than rising on the São Paulo exchange, Petrobras, the state-controlled oil giant, drove the index's advance, with its shares rising 2.0%. The Brazilian real weakened against the US dollar, closing at 5.1965 per dollar.
The outcome of a 12% tax on crude-oil exports, suspended by a federal court on Thursday and extended by the government the following day, kept oil producers and the currency in focus. The Ibovespa index, which tracks major listed companies, closed at an eighth consecutive gain, leaving it about 12% below its record high of 198,657.
Despite the narrow advance, negative breadth indicated that more stocks fell than rose, with Petrobras being the only heavyweight to contribute to the index's rise.
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