FX.co ★ Ibovespa Dips as Investors Monitor US-Iran Talks Prospects

The Ibovespa edged down toward 198,000 points on Wednesday, as investors adjusted positions after the previous session’s record high and kept a close eye on progress toward a potential peace agreement in the Middle East. US President Trump signaled that a second round of talks could resume in Pakistan soon.

Oil prices ticked higher but stayed below recent peaks, even as the United States maintained its blockade in the Strait of Hormuz. Among heavyweight stocks, banks showed mixed performance: Itaú advanced nearly 1%, while Bradesco was little changed. In contrast, Banco do Brasil dropped more than 1.5% after Itaú BBA cut its rating on the stock to underperform.

In the commodities and energy space, Vale added roughly 0.5%, supported by firmer iron ore prices. Petrobras, however, slipped around 0.4% as the recent oil rally lost momentum. WEG fell nearly 2%, with investors adjusting positions in response to weaker expectations for its first-quarter 2026 results.