By Luciana Magalhaes

RIO DE JANEIRO--Brazilian shares closed slightly lower Monday, led by losses at ethanol and sugar producer Cosan SA Industria e Comercio. The real closed stronger against the dollar.

The Ibovespa stocks index fell 0.22% to 57695 points. The real exited active trading at BRL2.2254 to the dollar, according to Tullett Prebon via FactSet.

Sugar producer Cosan had the biggest decline on the Ibovespa, falling 3.3% to 36.95 reais

Airline Gol Linhas Aereas posted the biggest gains, up 5.4% to 14.89 reais.

State-controlled oil company Petrobras closed 1.7% lower, at 20.15 reais. Mining behemoth Vale closed up 1.4% at 29.36 reais.

Write to Luciana Magalhaes at Luciana Magalhaes

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