The Ibovespa rose 0.7% to close at 174,070 on Friday as investors digested May industrial production figures and June services PMI data. The S&P Global Services PMI indicated that the sector expanded at a slightly faster pace in June amid improving demand, bolstering domestically oriented stocks.
Retail names led the advance, with Ultrapar up 3.5% and Magazine Luiza gaining 4.2%. Financials also traded higher, as Itaúsa added 0.7% and B3 climbed 1%.
In commodities, oil prices hovered near pre-conflict levels on optimism surrounding potential US-Iran peace efforts, easing fears of energy-driven inflation. Petrobras advanced 0.8% despite softer crude prices, supported by the inauguration of its Pre-Salt Technology Center, a semi-industrial-scale research facility built with R$300 million in funding.
On the macro front, industrial production increased just 0.2% year-on-year in May, sharply undershooting expectations for a 1.3% rise. Investors also kept an eye on the United States’ decision to launch a public consultation on Brazil’s trade policies and practices.