The Ibovespa fell 0.4% to close at 185,229 on Friday after September IGP-M data showed Brazil’s General Price Index – Market rising 1.47% in the second preview. The result reversed the 0.36% deflation recorded in the comparable August reading. Oil prices remained volatile amid persistent supply concerns, with elevated energy costs adding pressure to inflation and borrowing costs. Major banks declined, led by Bradesco’s 0.9% loss and Itaú’s 0.6% fall. Utilities weakened, with Axia down 2.9%. Miners also fell despite higher Chinese iron ore prices, including Vale at 1.5% lower, CSN Mineração down 1.9% and Usiminas off 2.7%. Cemig dropped 0.6% after JPMorgan maintained its sell recommendation, while Petrobras edged down 0.2% despite higher oil prices. The Ibovespa declined 1.1% over the week.