The Ibovespa fell 0.1% back from recent record highs to close at 158,360 on Thursday as thinner holiday liquidity and softer domestic data encouraged investors to lock in gains after the index’s strong run. October’s Caged report undershot expectations, signalling weaker near-term growth and tempering the outlook for corporate earnings, while recent remarks from the Central Bank reinforced that policy will stay restrictive for as long as needed to secure inflation convergence. Eletrobras and Rede D'Or Sao Luiz were the worst performers losing 1.3% and 1.7%, respectively, while Lojas Renner (+3.2%) and Copasa MG (+4.7%) topped the index.