Weekend Edition: Ibovespa Powers to Records While Brent Surges
Brazilian equities and the real led a broad regional rally as oil jumped nearly 8%, even as Mexico and gold slipped and dealmakers kept the M&A pipeline humming.
Equity markets| MARKET | CLOSE | WEEK | READ |
|---|
| Ibovespa · Brazil | 185,147 | +5.40% | Roaring week into fresh record territory | | S&P/BMV IPC · Mexico | 64,867 | −0.94% | Slipped while the region rallied | | S&P Merval · Argentina | 3,049,122 | +2.34% | Kept grinding higher | | Chile · ECH (ETF) | 40.84 | −0.37% | Soft; firmer copper offered little lift | | Peru · EPU (ETF) | 92.17 | −0.14% | Barely budged on the week | | S&P 500 · US | 7,719 | +0.09% | Essentially flat, waiting on the Fed |
Currencies · per US dollar| PAIR | CLOSE | WEEK | READ |
|---|
| USD/BRL | 5.1271 | −1.27% | Real firmed as risk appetite returned | | USD/MXN | 16.8802 | −0.88% | Peso quietly stronger | | USD/CLP | 933.68 | +0.33% | Softer despite firmer copper | | USD/COP | 3,124.50 | −2.44% | Best LatAm currency of the week | | USD/PEN | 3.3533 | +0.13% | Sol effectively flat | | USD/ARS | 1,508.50 | −0.25% | Steady under the managed crawl |
Commodities| INSTRUMENT | CLOSE | WEEK | READ |
|---|
| Gold · spot | 4,430 | −1.08% | Pulled back from record highs | | Silver · spot | 66.05 | −1.42% | Followed gold lower | | Copper · lb | 6.60 | +0.53% | Edged up, still rangebound | | Brent · bbl | 96.28 | +7.80% | Sharp surge led the commodity tape |
Deals of the week| TARGET | ACQUIRER | COUNTRY | VALUE | SECTOR | READ |
|---|
| Motiva airport platform (17 terminals) | Asur | Mexico | R$12.21bn | Airports / Infrastructure | Mexico's Asur takes the Americas lead | | Grupo Serra Verde | USA Rare Earth | Brazil | R$14.5bn | Rare earths / Mining | Building a rare-earth chain outside China | | Raízen Argentina operations | Mercuria Energy | Brazil | US$1.42bn | Energy / Fuels | Raízen keeps deleveraging | | Pecém II thermal plant | Diamante Geração | Brazil | R$748mn | Power generation | Eneva trims its thermal portfolio | | Grupo Ri Happy | BluSun Capital Partners | Brazil | Undisclosed | Retail | SPX/Carlyle exit; Núñez back as CEO | | Yoki & Kitano (General Mills Brazil) | 3corações | Brazil | R$800mn | Food & Beverage | 3corações diversifies beyond coffee | | Vision + Tempest (merger) | SPX Capital & Embraer | Brazil | Undisclosed | Cybersecurity | New R$700m-revenue cyber champion | | Rio Vermelho & Nova Unialco mills (Bunge) | Cofco International | Brazil | Undisclosed | Sugar & ethanol / Agribusiness | Cofco lifts crushing capacity 38% |
Capital raising| COMPANY | INVESTORS | STAGE | COUNTRY | AMOUNT | READ |
|---|
| DM | FIDC market | FIDC (dual issuance) | Brazil | R$380mn | Largest-ever raise, 2x oversubscribed | | Doroth | Loccus | Corporate VC | Brazil | R$23mn | Funding LatAm's first microfluidic chip plant | | Gama Fund (Monashees) | Monashees, Google, B3 | Fund launch | Brazil | US$10mn | New AI-focused early-stage vehicle | | Wellhub (ex-Gympass) | US public markets | IPO (planned) | Brazil | US$400–500mn (target) | Prepping a US listing | | Sharpi | NXTP, OneVC | Venture round | Argentina | US$4mn | AI that automates WhatsApp ordering | | Biomm | Private placement | Debentures | Brazil | R$88.3mn | Balance-sheet reinforcement for the pharma |
Market data: Yahoo Finance, Alpha Vantage.
Chart of the Week
Brazil Presidential Election. Chart: Polymarket.
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