Ibovespa Closes Lower as US-Iran Tensions Weigh

The Ibovespa fell 0.8% to close at 170,653 on Wednesday as renewed US-Iran tensions fueled global risk aversion. President Trump said the memorandum of understanding with Iran to end the conflict was "over," reviving concerns over potential disruptions to global energy supplies. Higher oil prices renewed fears of energy-driven inflation and higher interest rates, weighing on financials and the broader market. Itaú fell 1.3% and Bradesco lost 0.7%. Vale dropped 4.6% after a hearing on the USTR's proposed 25% tariff on Brazilian goods concluded on Tuesday. The company was also pressured by the announcement of the immediate resignation of Chairman Daniel Stieler. Other exporters traded lower, with Embraer down 3%. In contrast, Petrobras gained 3.1% as higher oil prices boosted the energy sector.

The Ibovespa fell more than 0.5% to trade below 171,000 on Wednesday as renewed US-Iran tensions fueled global risk aversion. US President Trump said the memorandum of understanding with Iran to end the conflict was "over," reviving concerns over potential disruptions to global energy supplies. Higher oil prices renewed fears of energy-driven inflation and higher interest rates, weighing on financials and the broader index. Itaú and Itaúsa lost nearly 2%, while Santander, Banco do Brasil, and Bradesco fell about 1%. Meanwhile, Vale dropped more than 2% after a hearing on the USTR's proposed 25% tariff on Brazilian goods concluded on Tuesday. The company also announced the immediate resignation of Chairman Daniel Stieler on Monday. Other major exporters traded lower, with Embraer (-3%), Gerdau (-1%), CSN (-1%), and Minerva (-1%) posting losses. In contrast, Petrobras gained more than 2.5% on higher oil prices.

The Ibovespa fell 0.2% to close at 172,021 on Tuesday as renewed tensions between the US and Iran lifted oil prices and bond yields. Reports that the US would revoke the waiver allowing Iran to sell its oil, following recent attacks on tankers in the Strait of Hormuz, fueled concerns over energy-driven inflation and higher borrowing costs. Financial stocks traded mostly lower, with Bradesco down 0.6%. Separately, Itaúsa (+0.2%) said it could subscribe between BRL 730 million and BRL 1.5 billion in Aegea's proposed capital increase. Vale fell 2% on lower iron ore prices, while WEG (-0.8%), Ambev (-1.7%), and Embraer (-1.1%) also declined. In contrast, Petrobras rose 1.8% as oil prices jumped.