Ibovespa Gains as Investors Digest Corporate Earnings

The Ibovespa rose 0.7% to close at 178,366 on Thursday in a session driven by corporate earnings. CSN climbed 4.7% after reporting first-quarter adjusted EBITDA of R$2.6 billion, up 5.5% from a year earlier and broadly in line with expectations. Eneva gained 0.6% after posting net income of R$522.7 million, a 36% annual increase. Cosan rose 1.1% and Marfrig added 3.8% ahead of their earnings releases. Meanwhile, Banco do Brasil erased early losses to close flat after cutting its 2026 profit guidance to between R$18 billion and R$22 billion following a more than 50% drop in first-quarter adjusted net income. Braskem fell 0.5% despite reporting net profit of R$1.45 billion, more than double the level seen a year earlier. Investors also continued to assess revelations involving Flávio Bolsonaro and former Banco Master owner Daniel Vorcaro, who was charged with fraud.

The Ibovespa gained nearly 0.5% to trade near 178,000 on Thursday, recovering from losses in the previous session as investors focused on corporate earnings. CSN (+1.4%) reported better-than-expected first-quarter 2026 results, with adjusted EBITDA reaching R$2.646 billion. Eneva (+1.7%) posted net income of R$522.7 million in the quarter, up 36% from a year earlier. In contrast, Banco do Brasil (-0.6%) reported adjusted net income of R$3.4 billion, down 53.5% from the same period in 2025. Cosan (+1.3%), and Marfrig (+1.5%) are set to release earnings later today. Meanwhile, the financial sector rebounded after losses in the previous session triggered by a report alleging ties between Senator Flávio Bolsonaro, a contender in October’s presidential election, and Daniel Vorcaro, owner of failed lender Banco Master and charged guilty of fraud. Itaú and Bradesco both gained more than 1%.

The Ibovespa fell 1.8% to close at 177,098 on Wednesday as fading expectations for a US-Iran peace agreement weighed on investor sentiment. The stalling of negotiations this week reduced prospects for a reopening of the Strait of Hormuz, while concerns over stagflation pressures and higher bond yields continued to pressure banks and the broader market. Most stocks traded lower. In the financial sector, Bradesco fell 1.7% and Itaúsa lost 1.4%, while utilities also weakened, with Sabesp down 1.5% and Azzas shedding 4.2%. Petrobras dropped 2.4%, while Ambev (-1.4%) and Rede D’Or (-3.3%) also posted losses. On the upside, Vale gained 1.3% amid higher iron ore prices. After the close, Banco do Brasil (-2.6%), CSN (-3%), and Eneva (-2.1%) are set to report earnings results.