Brazilian Stocks Edge Higher Despite Political Uncertainty

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The Ibovespa gained about 0.1% to hover above the 140,000 mark on Wednesday, below previous record levels reached recently as the Supreme Court’s continued the trial of former President Bolsonaro and seven allies, accused of leading a 2022 coup plot. The high-profile case, which includes US sanctions on Supreme Court Judge Alexandre de Moraes and visa suspensions for eight judges, is fueling political uncertainty and weighing on investor sentiment. Bolsonaro and his co-defendants deny wrongdoing, while Congress faces growing pressure over a potential amnesty bill for January 8 pro-Bolsonaro protests participants, to be debated after the trial ends September 12. Domestically, industrial production fell 0.2% in July, while Brazil’s Services PMI rose to 49.3 in August, signaling only a marginal decline. Retailers and transformation industries traded mixed, with Petrobras down 0.7% and Vale up 0.3%

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