Ibovespa Slips on Energy and Mining Losses

2026-09-29 14:00 By Isabela Couto 1 min. read

The Ibovespa edged lower to trade near 182,500 on Tuesday, weighed by losses in the energy and mining sectors.

Petrobras lost more than 1% amid a pullback in oil prices as US and Iranian officials continued separate discussions with mediators.

Vale shed over 1.5%, while CSN Mineração and Usiminas lost more than 3% each as iron ore prices fell.

Iron ore prices in China closed lower, pressured by increased port arrivals and persistently weak steel demand ahead of a national holiday.

CSN Mineração announced a temporary reduction in low-grade iron ore production due to higher freight costs and a challenging market environment.

Steelmakers also fell, with CSN slumping 8%.

On the data front, unemployment stood at 5.3% in the rolling quarter ended in August, unchanged from the previous quarter and matching expectations.

Meanwhile, an Atlas/Bloomberg poll confirmed a technical tie between President Lula and Flávio Bolsonaro in a second-round scenario for the October presidential election.



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Ibovespa Slips on Energy and Mining Losses
The Ibovespa edged lower to trade near 182,500 on Tuesday, weighed by losses in the energy and mining sectors. Petrobras lost more than 1% amid a pullback in oil prices as US and Iranian officials continued separate discussions with mediators. Vale shed over 1.5%, while CSN Mineração and Usiminas lost more than 3% each as iron ore prices fell. Iron ore prices in China closed lower, pressured by increased port arrivals and persistently weak steel demand ahead of a national holiday. CSN Mineração announced a temporary reduction in low-grade iron ore production due to higher freight costs and a challenging market environment. Steelmakers also fell, with CSN slumping 8%. On the data front, unemployment stood at 5.3% in the rolling quarter ended in August, unchanged from the previous quarter and matching expectations. Meanwhile, an Atlas/Bloomberg poll confirmed a technical tie between President Lula and Flávio Bolsonaro in a second-round scenario for the October presidential election.
2026-09-29
Ibovespa Falls as Oil Rally Resumes
The Ibovespa fell 0.3% to close at 182,991 on Monday amid an unfavorable external backdrop, higher inflation projections and new election polls confirming a tight presidential race. Oil prices resumed their rally after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, renewing concerns that energy-driven inflation could keep interest rates elevated. Yields rose, pressuring credit-sensitive stocks. Major banks fell, with Itaú and Bradesco down 1% each. Meanwhile, the BCB’s Focus survey showed that the market raised its 2026 inflation forecast from 4.92% to 4.99%, while the year-end 2026 Selic forecast remained at 13.5%. A new election poll showed President Lula widening his lead over Flávio Bolsonaro, who is viewed by markets as more fiscally restrictive amid elevated domestic yields and weak business activity. Other notable laggards included Ambev (-0.8%), WEG (-1.9%) and Vivo (-2%). In contrast, Petrobras rose 1.5% and Vale added 0.5%.
2026-09-28
Ibovespa Slips Amid Oil Rebound
The Ibovespa fell nearly 1% to below 182,500 on Monday amid a jump in oil prices and the release of a new Focus survey. Oil prices resumed their rally after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, renewing concerns that energy-driven inflation shocks could keep interest rates higher for longer. Yields moved higher, pressuring credit-sensitive stocks. Major banks fell, with Itaú, Bradesco and BB losing about 1%, while utilities also posted losses, with Sabesp shedding nearly 1%. Meanwhile, the BCB’s Focus survey showed that the market raised its 2026 inflation forecast, from 4.92% to 4.99%, while the year-end 2026 Selic forecast remained at 13.50%. A new election poll showed President Lula widening his lead over Flávio Bolsonaro, who is viewed by markets as more fiscally restrictive amid elevated domestic yields and weak business activity. Elsewhere, Vale fell 1% on lower iron ore prices. In contrast, Petrobras rose more than 1%.
2026-09-28