The Ibovespa sank for the first time in four days on speculation a surge that pushed valuations to the highest since January was excessive considering the outlook for slow growth and fast inflation in Brazil.
The Ibovespa rose for the first time in three sessions as Cia. Energetica de Sao Paulo led power utilities higher amid speculation that recent losses pushing valuations to the lowest since June were excessive.
The Ibovespa fell for the first time in five sessions as raw-material exporters including iron-ore producer Vale SA dropped amid concern that construction growth is slowing in China, Brazil’s top trading partner.
The Ibovespa snapped a two-day drop as real estate companies including PDG Realty SA Empreendimentos & Participacoes rose after an increase in industrial production eased concern that Brazil’s recovery is faltering.