Brazil’s Stocks Fall as Budget Bill Delay Raises Reforms Concern
- Companies that depend on domestic demand fall most on Ibovespa
- Itau Unibanco and Ambev contribute most to decline of index
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The Ibovespa fell, led by companies that depend on domestic demand, as the delay of a congressional vote on a budget bill raised concern that it may take longer than expected to rein in Brazil’s fiscal deficit.
Indexes of Brazilian health-care service providers and financial stocks were the worst performers among 10 industry groups tracked by MSCI Inc. Lender Itau Unibanco Holding SA and brewer Ambev SA contributed the most to the Ibovespa’s decline.