Brazilian Stocks Edge Higher at Week Start

The Ibovespa hovered above the flatline at the 126,600 level on Monday, amid positive corporate developments.

Vale shares rose by nearly 1% after reporting it settled R$130 billion with local governments for the reparations over the collapse of its Mariana dam in Minas Gerais.

Additionally, Casas Bahia’s shares surged by 18% as investors reacted to the request for extrajudicial recovery, which reprofiles the retailer’s R$41.3 billion debt, extending the term from 22 to 72 months.

Furthermore, Rede D’Or witnessed a 3.3% increase, prompted by an upgraded recommendation from Itaú BBA. Other notable gainers included Hypermarcas, rising by 4.7%, Braskem by 2.5%, and Metalurgica Gerdau by 2.2%.