Ibovespa Slips on Inflation Surprise and Middle East War Uncertainty

2026-03-26 14:02 By Isabela Couto 1 min. read

The Ibovespa lost about 0.5% to trade below 185,000 on Thursday, pressured by higher-than-expected mid-month inflation and mixed Middle East war signals.

The IPCA-15's momentum slowed in March after seasonal back-to-school effects faded, but food and personal expenses kept inflation above expectations.

While the 12-month rate eased, it remains above the 3.0% target, adding pressure on the base rate outlook while Iran conflict-driven oil rises with no clear end in sight could further complicate central banks' rate decisions.

Major banks posted losses: Itaú down 1%, Bradesco 0.6%.

Utilities traded negative, with Axia and Sabesp shedding over 1%.

Other laggards included Vale down 0.6%, WEG down 0.6%, and Ambev down 0.5%.

Petrobras gained near 1% on higher oil prices.

Americanas surged near 17% after filing to exit judicial recovery, selling assets, and reporting sharp Q4 2025 improvement versus Q4 2024.



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Ibovespa Slips on Inflation Surprise and Middle East War Uncertainty
The Ibovespa lost about 0.5% to trade below 185,000 on Thursday, pressured by higher-than-expected mid-month inflation and mixed Middle East war signals. The IPCA-15's momentum slowed in March after seasonal back-to-school effects faded, but food and personal expenses kept inflation above expectations. While the 12-month rate eased, it remains above the 3.0% target, adding pressure on the base rate outlook while Iran conflict-driven oil rises with no clear end in sight could further complicate central banks' rate decisions. Major banks posted losses: Itaú down 1%, Bradesco 0.6%. Utilities traded negative, with Axia and Sabesp shedding over 1%. Other laggards included Vale down 0.6%, WEG down 0.6%, and Ambev down 0.5%. Petrobras gained near 1% on higher oil prices. Americanas surged near 17% after filing to exit judicial recovery, selling assets, and reporting sharp Q4 2025 improvement versus Q4 2024.
2026-03-26
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The Ibovespa surged 1.60% to close at 185,424 on Wednesday as optimism for a diplomatic resolution in the Middle East drove a broad rally and a decline in future interest rates. Sentiment was bolstered by reports of a 15-point US peace proposal delivered to Tehran which pressured global oil prices and eased inflation concerns domestically. Utilities and financials led the gains with Sabesp advancing 2.4% and Banco Bradesco climbing 2.2%. Industrial and consumer leaders also showed strength as WEG rose 2% and B3 jumped 3.7% amid the improved risk environment. Despite the slump in Brent crude Petrobras remained resilient in positive territory gaining 0.2% while Vale added 1.5%. In contrast the retail sector saw mixed results with Lojas Renner falling 1.3%. Most assets ended the day higher as traders weighed the prospect of de-escalation against continued regional hostilities.
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The Ibovespa climbed nearly 2% to trade above 185,000 on Wednesday after reports hinted at a possible ceasefire in the US-Israel war against Iran, raising hopes for resumed Persian Gulf oil exports. The news pulled down international oil prices, easing energy-driven inflation concerns. Major banks traded higher: Bradesco and Banco do Brasil both up about 2%. Utilities posted gains, with Axia and Sabesp advancing nearly 2%. Other notable performers included Vale up 1.9%, Rede D'Or up 2.7%, and WEG up 3%. In contrast, lower oil prices and easing supply pressures drove Petrobras down over 1%.
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