FX.co ★ Ibovespa Falls on Energy and Mining Losses

The Ibovespa slipped below 171,500 on Tuesday, pressured by declines in the energy, mining, and industrial sectors. Petrobras fell nearly 1% as oil prices retreated despite ongoing US sanctions on Iran. Industrial and consumer-related shares were broadly weaker after consumer confidence dropped for a fourth consecutive month in August: WEG declined more than 1%, Ambev lost 0.5%, and in retail, Ultrapar tumbled close to 4%. Mining stocks also retreated as iron ore prices fell, with Vale edging lower and CSN Mineração down more than 1%.

In contrast, credit-sensitive sectors advanced, as softer oil prices provided some relief to financials and the broader market, both of which have been pressured by energy-driven inflation concerns. Bradesco and Banco do Brasil each gained around 0.5%. Utilities also traded mostly higher, with Sabesp adding nearly 0.5%.