FX.co ★ Ibovespa Slips as Middle East Tensions Weigh

The Ibovespa fell 0.5% on Thursday, closing at 176,724 points, as rising geopolitical tensions in the Middle East weighed on investor sentiment. Oil prices jumped following renewed attacks that intensified concerns over global energy supplies, stoking inflation fears and bolstering expectations that interest rates may stay elevated for longer. Financial stocks led the declines: Itaú dropped 0.8%, Bradesco slid 1.3%, Itaúsa fell 0.6%, and Banco do Brasil retreated 0.8%. Utilities also traded lower, with Axia down 0.6% and Sabesp off 1%. WEG lost 2.3% after surging 10% in the previous session on the back of robust operating margins and strong returns on invested capital. Other notable underperformers included Ambev (-1.3%), Rede D'Or (-2.4%), and Embraer (-0.5%). Bucking the broader trend, Petrobras advanced 0.9%, supported by the rally in oil prices.