The Ibovespa slipped 0.3% to close at 139,864, weighed down by deteriorating growth dynamics and rising political uncertainty. Brazil’s industrial production fell 0.2% in July from June - the fourth straight month of contraction - while year-on-year output rose modestly just 0.2%, clearly showing that expensive credit continues to hinder manufacturing activity. Services are showing only a marginal easing rather than a rebound, with the PMI inching up to 49.3 in August but remaining in contraction territory. On top of the economic cooling, political unease persists as the Supreme Federal Court begins the final stage of Jair Bolsonaro’s coup trial, raising execution risk around governance and institutional stability. Petrobras (-1%), Ambev (-2.1%), Eletrobras (-1.1%), and Ita