Ibovespa Rises as Investors Await US-Iran Deal

The Ibovespa gained 0.5% to close at 184,108 on Friday, as investors awaited Iran’s response to a US proposal aimed at ending the conflict in the Middle East. Banks led gains, with Itaú rising 1.1%, while other notable performers included Vale (+0.9%), WEG (+2.7%), and Azzas (+1.1%). Petrobras fell 1.2% as uncertainty over a potential peace deal persisted and clashes near the Strait of Hormuz continued. Elsewhere, Cemig (+0.9%), which is set to release Q1 2026 results later in the day, approved the election of Alexandre Ramos Peixoto as CEO. Banco do Brasil (+0.5%) said it renegotiated more than R$430 million in customer debt over two days. Embraer plunged 11.4% after reporting adjusted net income of R$145.4 million in Q1, down 51.5% from a year earlier. On the data front, revenue in Brazil’s manufacturing industry rose 3.8% in March from February, though growth remained weaker than a year earlier.

The Ibovespa gained nearly 1% to hover near the 185,000 mark on Friday, as investors awaited Iran’s response to a US proposal aimed at ending the conflict in the Middle East. Banks led gains, with Itaú rising nearly 1.5%, while other notable performers included Vale (+1.2%), WEG (+1.9%), Axia (+1.0%), and Rede D’Or. Petrobras edged higher as uncertainty over a potential peace deal persisted and clashes near the Strait of Hormuz continued. Elsewhere, Cemig (+1.1%), which is set to release Q1 2026 results later in the day, approved the election of Alexandre Ramos Peixoto as CEO. Banco do Brasil (+1.6%) said it renegotiated more than R$430 million in customer debt over two days. Embraer (-6.2%) fell after reporting adjusted net income of R$145.4 million in Q1, down 51.5% from a year earlier. On the data front, revenue in Brazil’s manufacturing industry rose 3.8% in March from February, though growth remained slower than a year earlier.

The Ibovespa fell more than 2.4% to close at 183,218 on Thursday, pressured by Petrobras and major banks. Petrobras dropped 2.2% as oil prices declined on expectations that a potential US–Iran agreement could lead to a gradual reopening of the Strait of Hormuz. Banks also traded lower despite strong earnings reports, with Itaú falling 2.4% despite a 10% annual increase in profit, as concerns over delinquency levels weighed on sentiment, while Bradesco lost 3.9% even after reporting a 16.1% rise in earnings. Elsewhere, Sabesp (-3.7%) and B3 (-3.2%) are set to release earnings later in the day.