Brazil Stocks Fall as Bradesco, GPA Quarterly Results Disappoint
- Lenders contribute the most to decline of benchmark Ibovespa
- Investors watching earnings for sign recovery on the way
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The Ibovespa fell the most in three weeks as disappointing earnings reports from lender Banco Bradesco SA and retailer Cia. Brasileira de Distribuicao reignited fears that weak domestic demand will delay Brazil’s recovery from recession.
Bradesco and rival Itau Unibanco Holding SA contributed the most to the benchmark equity index’s decline on Thursday. Cia. Brasileira, which is also known as GPA and operates electronic-goods stores and the Pao de Acucar supermarket chain, was the worst performer on the index.