Ibovespa Rises on Energy Gains

The Ibovespa gained about 0.5% to trade above 171,000 on Thursday, supported by strength in energy stocks. Petrobras rose nearly 1% as markets reassessed the outlook for global oil supply following renewed US-Iran hostilities. Banking shares also advanced, with Itaú and Bradesco gaining more than 0.5%. Vale rebounded 0.5% despite lower iron ore prices. Other notable gainers included Ambev and Embraer, both up more than 0.5%. Meanwhile, US Trade Representative Jamieson Greer said a decision on US tariffs on Brazilian imports would be made very soon, although negotiations between the two countries remain far apart.

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.