Brazilian Stocks Hover Flat on Monday

The Ibovespa edged above the flatline, reaching the 125,000 mark on Monday, buoyed by positive corporate developments.

Petrobras shares climbed over 1.3% as investors continued to position for the dividend payout decision expected to be announced following its Board’s meeting on Thursday.

Additionally, the non-binding agreement for a potential merger between Petz and Cobasi, signed on Friday, extended its positive momentum, lifting Petz shares by more than 9%.

Other notable performers included Qualicorp, gaining 4%, Kora Saude, up 3.9%, and CVC, up 3.6%.

On the downside, limiting the index’s rise were Banco Santander at the bottom, with losses of over 2%, followed by Marfrig and Klabin, each down 2.3%.