Brazilian stocks dropped on Monday

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Source: Dukascopy Bank SA
© Scanpix/AFP
Brazilian stocks were bearish on Monday amid mixed quarterly reports from the US. Meanwhile, market sentiment remained under pressure as traders continued to await flesh PMI releases and the FOMC statement due on Wednesday. The Bovespa Index lost 0.38% to close at 58,700.30. Only four in nine sectors included in the index climbed. The top-performers were consumer services and industrials, jumping by 0.37% and 0.17%. Among industrials, LLX Logistica gained 1.56%. At the same time, All America Latina Logistica and  Duratex dropped by 1.59% and 0.71%. On the downside, oil and gas firms as well as financials shed 1.67% and 0.56%. OGX Petroleo e Gas Participacoes and Petroleo Brasileiro tumbled 4.17% and 0.35% amid weak crude oil prices. Lenders also retreated, with Banco Bradesco and Banco Santander Brasil slumped 1.85% and 1.78%.


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