Ibovespa Rises as Oil Drops on US-Iran Peace Hopes

2026-05-06 13:58 By Isabela Couto 1 min. read

The Ibovespa rose nearly 1% to trade above 188,000 on Wednesday, as reports of a potential US–Iran agreement to end the Middle East conflict boosted sentiment.

A Pakistani mediator indicated both sides are close to a one-page memorandum, while President Donald Trump said compliance by Iran could end the war and reopen the Strait of Hormuz.

Oil prices plunged on expectations of resumed supply, easing inflation concerns.

Banks gained, with Itaú up over 1% and Bradesco (+2.0%) advancing ahead of earnings.

Itaú posted strong Q1 results.

Vale jumped more than 3%, supported by higher iron ore prices as trading resumed in China after the May Day holiday.

Elsewhere, Minerva (+1.2%) is set to report results.

Oil stocks declined sharply, tracking lower crude prices, with PRIO (-4.2%) leading losses, followed by Petrobras (-2.6%), despite PRIO reporting results above estimates.

On the data front, Brazil’s services PMI rose to 52.3 in April from 50.1.



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Ibovespa Rises as Oil Drops on US-Iran Peace Hopes
The Ibovespa rose nearly 1% to trade above 188,000 on Wednesday, as reports of a potential US–Iran agreement to end the Middle East conflict boosted sentiment. A Pakistani mediator indicated both sides are close to a one-page memorandum, while President Donald Trump said compliance by Iran could end the war and reopen the Strait of Hormuz. Oil prices plunged on expectations of resumed supply, easing inflation concerns. Banks gained, with Itaú up over 1% and Bradesco (+2.0%) advancing ahead of earnings. Itaú posted strong Q1 results. Vale jumped more than 3%, supported by higher iron ore prices as trading resumed in China after the May Day holiday. Elsewhere, Minerva (+1.2%) is set to report results. Oil stocks declined sharply, tracking lower crude prices, with PRIO (-4.2%) leading losses, followed by Petrobras (-2.6%), despite PRIO reporting results above estimates. On the data front, Brazil’s services PMI rose to 52.3 in April from 50.1.
2026-05-06
Ibovespa Rises as Copom Signals Further Easing
The Ibovespa gained 0.6% to close at 186,754, as investors digested Copom minutes and a wave of corporate earnings. The central bank noted that while higher inflation is unlikely to prevent further rate cuts this year, risks to inflation expectations may limit the pace of easing compared to earlier projections. Banks advanced, with Bradesco (+1.5%) and Banco do Brasil (+1.7%) higher, while Ambev surged over 15% after reporting Q1 net income of R$3.89 billion, up 2.1% year-on-year. After the close, Iguatemi (-1.5%), Itaú (-0.3%), and TIM (-0.5%) are set to report results. Elsewhere, UBS BB raised Sabesp’s (+1.4%) target price to R$38 from R$33.80 but downgraded the stock to neutral, while Petrobras fell 1.4% as oil prices declined despite ongoing Middle East tensions.
2026-05-05
Ibovespa Rises on Corporate Earnings and Copom Minutes
The Ibovespa edged up to trade near 186,000 on Tuesday, as investors digested Copom minutes and a wave of corporate earnings. The central bank noted that the increase in inflation is unlikely to prevent more rate cuts this year, although threats to the anchor of inflation expectations may reduce the magnitude of cuts compared to those expected earlier.  Banks advanced, with Bradesco (+1.0%) and Banco do Brasil (+2.0%) higher. Ambev jumped over 10% after reporting Q1 net income of R$3.89 billion, up 2.1% year-on-year. After the close, C&A (+1.3%), Iguatemi (+1.5%), Itaú (+0.2%), Prio (-2.3%), RD Saúde (+1.4%), and TIM (+1.4%) are set to report results. Elsewhere, UBS BB raised Sabesp’s (-0.9%) target price to R$38 from R$33.80 but downgraded the stock to neutral. Petrobras fell over 1% as oil prices declined despite Middle East tensions.
2026-05-05