Ibovespa Declines as Economic Concern Offsets Levy Nod
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The Ibovespa dropped a second day amid concern the Brazilian economy will remain weak next year even after policy changes that may be carried out by incoming Finance Minister Joaquim Levy.
State-controlled oil producer Petroleo Brasileiro SA contributed most to the benchmark equity gauge’s drop as oil tumbled to a four-year low. Airline Gol Linhas Aereas Inteligentes SA was the best performer on the index.