Ibovespa Slides on Weak Corporate Earnings

2026-04-29 18:58 By Isabela Couto 1 min. read

The Ibovespa fell near 2% to trade below 185,500 following weak quarterly reports from Vale and WEG, the US Fed's meeting, and ahead of the upcoming Selic decision.

Vale plunged over 5% after reporting results below market expectations.

Likewise, WEG lost nearly 6% after it recorded a decline in profits.

Meanwhile, the Fed held its benchmark interest rate in the range of 3.5% to 3.75%, citing the surge in oil prices and increased economic uncertainty from the Iran war.

The Brazilian central bank is expected to cut the Selic rate by 25 basis points after the bell, but recent high inflation data has kept some bets of a hold alive and increased the likelihood of hawkish guidance.

Major banks traded negative, with Itaú and Bradesco losing over 2%, and Santander shed near 2% after missing Q1 2026 earnings forecasts.

In contrast, Petrobras gained over 3% as energy prices rose further amid no sign that oil supply through the Strait of Hormuz would normalize soon.



News Stream
Ibovespa Dips Ahead of Selic Decision
The Ibovespa lost 2% to close at 184,750 ahead of the upcoming Selic decision. The Brazilian central bank is expected to cut the Selic rate by 25 basis points after the bell, but recent high inflation data has kept some bets of a hold alive and increased the likelihood of hawkish guidance. Meanwhile, the US Fed held its benchmark interest rate in the range of 3.5% to 3.75%, citing the surge in oil prices and increased economic uncertainty from the Iran war. Major banks traded negative, with Itaú down 2.8% and Bradesco losing 2.3%. Santander shed 2.4% after missing Q1 2026 earnings forecasts. In addition, Vale plunged over 5.9% after reporting results below market expectations. Likewise, WEG lost nearly 6.7% after it recorded a decline in profits.
2026-04-29
Ibovespa Slides on Weak Corporate Earnings
The Ibovespa fell near 2% to trade below 185,500 following weak quarterly reports from Vale and WEG, the US Fed's meeting, and ahead of the upcoming Selic decision. Vale plunged over 5% after reporting results below market expectations. Likewise, WEG lost nearly 6% after it recorded a decline in profits. Meanwhile, the Fed held its benchmark interest rate in the range of 3.5% to 3.75%, citing the surge in oil prices and increased economic uncertainty from the Iran war. The Brazilian central bank is expected to cut the Selic rate by 25 basis points after the bell, but recent high inflation data has kept some bets of a hold alive and increased the likelihood of hawkish guidance. Major banks traded negative, with Itaú and Bradesco losing over 2%, and Santander shed near 2% after missing Q1 2026 earnings forecasts. In contrast, Petrobras gained over 3% as energy prices rose further amid no sign that oil supply through the Strait of Hormuz would normalize soon.
2026-04-29
Ibovespa Falls Ahead of Central Bank Decision
The Ibovespa fell more than 0.5% to trade below 187,500 on Wednesday amid persistent concerns that high energy prices will hurt domestic spending and prompt the central bank to maintain restrictive interest rates. Energy prices rose further as no sign emerged that oil supply through the Strait of Hormuz would normalize soon. The impact on inflation was underscored by the sharp increase in the IGM-P, which jumped the most in five years in April. Meanwhile, the central bank is expected to cut the Selic rate by 25 basis points after the close, but recent high inflation data has kept some bets of a hold alive and increased the likelihood of hawkish guidance. Most financials posted losses, with Bradesco down near 1% and Banco Santander edging lower after missing Q1 2026 earnings forecasts. Vale shed over 1% after reporting results below market expectations, while WEG lost nearly 2% on a decline in profits.
2026-04-29