FX.co ★ Ibovespa Falls on Petrobras Losses

The Ibovespa fell more than 0.5% on Friday, slipping below 187,500 points, pressured by declines in the energy sector amid a retreat in oil prices. Hopes for diplomatic progress in easing tensions in the Strait of Hormuz pushed crude prices lower. Gulf foreign ministers are expected to meet with their Iranian counterpart in Oman on Monday, as part of efforts to secure support for a temporary framework to manage maritime traffic through the strait.

Among oil-related stocks, Petrobras dropped more than 1.5%, while Prio fell over 2.5%. Losses extended across most sectors, with the ongoing Supreme Court crisis sustaining political uncertainty and weighing on Brazil’s economic outlook. Financials connected to the real estate sector traded lower, as BB Seguridade declined more than 2% and Caixa slipped 1%. Utilities also retreated, with Axia down 0.5%.

On the macroeconomic front, annual inflation came in slightly below expectations, which helped curb losses among major private-sector banks by reinforcing bets on another Selic rate cut at the next Copom meeting.