The Ibovespa slipped 0.2% on Tuesday, closing at 172,021 points, as renewed tensions between the US and Iran pushed oil prices and bond yields higher. Reports that Washington plans to revoke the waiver allowing Iran to sell its oil—after recent attacks on tankers in the Strait of Hormuz—stoked fears of energy-driven inflation and rising borrowing costs.
Financial stocks mostly retreated, with Bradesco down 0.6%. In corporate news, Itaúsa (+0.2%) said it may subscribe between BRL 730 million and BRL 1.5 billion in Aegea’s proposed capital increase. Vale dropped 2% amid weaker iron ore prices, while WEG (-0.8%), Ambev (-1.7%), and Embraer (-1.1%) also ended the session lower. Bucking the trend, Petrobras advanced 1.8% on the back of the rally in oil prices.