Brazil Stocks Decline as Brexit Concerns Rattle Global Markets
- Material producers are worst performers on the Ibovespa
- Lender Itau declines on prospect of lower interest rates
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Brazil’s benchmark Ibovespa index fell for a third day, joining a global decline, as the prospect that the U.K. will leave the European Union sparked a selloff in riskier assets.
A gauge of raw-materials producers was the worst performer among 10 industry groups. State-controlled oil producer Petroleo Brasileiro SA followed a decline in crude. Lender Itau Unibanco Holding SA contributed the most to the Ibovespa’s decline.