FX.co ★ Ibovespa Falls as Petrobras Earnings Disappoint

The Ibovespa slipped below 181,500 on Tuesday, weighed down by disappointing results from Petrobras. Shares of the state-controlled oil major fell around 2% after it reported a 7.2% year-on-year drop in first-quarter 2026 profit, along with weaker adjusted EBITDA and lower diesel and gasoline revenues.

Bank stocks also moved lower as Brazil’s inflation accelerated in April, driven by rising food and fuel prices and edging closer to the upper band of the central bank’s target range. The data heightened concerns that persistent inflationary pressures could slow the pace of future Selic rate cuts. Higher bond yields further stoked worries about increased borrowing costs and softer credit demand.

Itaú and Bradesco each lost nearly 1%, while Itaúsa slipped 0.7% despite delivering solid first-quarter results. Vale retreated close to 1% as iron ore prices weakened amid high inventory levels in China. On the upside, Hapvida jumped more than 10% after reporting earnings that beat market expectations.