FX.co ★ Ibovespa Slips Amid Middle East Tensions

The Ibovespa fell close to 1% on Friday, slipping below 166,000 points and extending its seven-month low, as stalled negotiations to end the war in the Middle East drove oil prices higher. Oil and gas benchmarks were set for strong weekly gains after the US threatened to ramp up economic pressure on Iran, including the possible extension of a naval blockade. The resulting energy-driven inflation pressures weighed on financials and other credit-sensitive stocks. Banco do Brasil, B3 and Caixa Econômica each declined around 1%, while Itaúsa slipped 0.5%.

Utilities also retreated. Sabesp dropped more than 1%, and CPFL fell over 3% despite reporting a 21.3% year-on-year increase in net profit, as industrial-segment growth remained modest and net debt rose 19.2%. In contrast, Cemig advanced nearly 3% after posting an 8.8% increase in EBITDA.

Elsewhere, Raízen sank 4% after reporting a net loss for the first quarter of fiscal year 2026/27. Braskem gained 3% after posting net income of R$3.33 billion, reversing a previous loss. MBRF rose 5% as it reported net income of R$69 million in the second quarter of 2026.