The week of October 12–16 was marked by new details from Petrobras (PETR4) on regulatory revenues, with the receipt of R$ 2.8 bn in fuel subsidies and the booking of an agreement that will generate US$ 859 mn in Gain and Benefit Equalization Agreements (AEGVs). In the equity market, B3 (B3SA3) reported a 46% increase in the volume of shares traded in September 2026, while Vale (VALE3) completed the new control structure for the Thompson mine in Canada. Among long-term corporate agreements, Rede D'Or (RDOR3) recorded a 20-year shareholders’ agreement.

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There was intense movement in capital structure and changes in shareholdings: FIP Shine reached 50% of the voting power in Braskem (BRKM3), while BÝK came to hold 81% of the votes in Taurus (TASA3, TASA4) and Gibraltar reduced its stake to 9% in the same company. BlackRock appeared in several relevant positions, reaching 5% of Suzano (SUZB3), Cogna (COGN3), AZZAS 2154 (AZZA3), TOTVS (TOTS3), Banco ABC Brasil (ABCB4) and the preferred shares of Banrisul (BRSR6), Usiminas (USIM5), Alupar (ALUP4) and Bradesco (BBDC4, with 10% of the preferreds), in addition to 10% of Equatorial (EQTL3). There were also reductions in stakes by managers such as Driehaus Capital in Direcional (DIRR3), JP Morgan in Fleury (FLRY3), SPX in Bemobi (BMOB3) and Petro-Victory in Azevedo & Travassos (AZTE3), while SFA Investimentos reached 5% of Positivo (POSI3) and Orbis reached 5% of PRIO (PRIO3).

In credit and fundraising, Valid (VLID3) announced a R$ 200 mn raise in its 12th debenture issue and reported a rating upgrade to AA+.br by Moody’s, while Vivara (VIVA3) obtained a AAA.br rating for its R$ 300 mn debentures. C&A (CEAB3) raised R$ 500 mn in debentures linked to the CDI (DI rate) with a spread of 0.8 percentage point per year. In the financial system, Banco Mercantil (BMEB4) received an AA.br rating and Banco Bmg (BMGB4) an A-.br rating, both from Moody’s, and Itaú injected another R$ 1.8 bn into Eneva (ENEV3). As for distributions, Banco Pine (PINE3, PINE4) approved interest on equity (JCP, a form of profit distribution that allows tax deduction) of R$ 0.179267 per share and Telefônica Brasil (VIVT3) approved JCP of R$ 0.1408 per share.

The real estate and construction sector delivered a busy agenda of operating figures: Direcional (DIRR3) reported net sales of R$ 1.3 bn in 3Q26, Plano&Plano (PLPL3) released gross sales of R$ 1 bn, Cyrela (CYRE3) reported launches of R$ 2.9 bn, Even (EVEN3) recorded launches of R$ 590 mn, Lavvi (LAVV3) reported launches of R$ 538 mn, Mitre Realty (MTRE3) announced a partnership in a R$ 565 mn project and net sales of R$ 253.7 mn, and Melnick (MELK3) reported net sales of R$ 91 mn in the quarter. In other sectors, Caixa Seguridade (CXSE3) detailed an estimated impact of R$ 210 mn in 2026, M. Dias Branco (MDIA3) announced the purchase of 80% of Grespan, Bradespar (BRAP4) reported a 33% discount to the value of its assets, Porto Seguro (PSSA3) posted R$ 1.49 bn in auto premiums in August, Estapar (ALPK3) showed a 12% increase in net revenue in 3Q26, Brisanet (BRST3) reached 1.59 mn broadband customers in September and Azevedo & Travassos Energia (AZTE3) reported a 10% increase in production. There were also corporate governance and management developments, such as the committee set up by Oncoclínicas (ONCO3) to investigate the previous management and the final deadline of its recovery plan, Unifique (FIQE3) requesting a special meeting on the tender offer, approval of the reappointment of the CFO at Kepler Weber (KEPL3), specific management changes at Taesa (TAEE11) and Technos (TECN3), the repurchase of 530 thousand common shares by OranjeBTC (OBTC3) and Magazine Luiza’s (MGLU3) announcement that it will not disclose guidance (targets) to the market.

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