The Ibovespa fell 0.6% on Friday, closing at 177,284 points, pressured by a deteriorating external backdrop amid renewed fears of rising global inflation and heightened domestic political noise. Growing concerns over the conflict in the Middle East drove global bond yields higher, while oil prices advanced due to the lack of progress in halting ship attacks and seizures around the Strait of Hormuz, deepening stagflation worries. Brazil’s 10-year government bond yield rose to its highest level in more than a year.
On the domestic front, sentiment was further undermined by reports linking Senator Flávio Bolsonaro to former Banco Master owner Daniel Vorcaro, who faces fraud charges. In the equity market, major banks retreated, with Itaú losing 1.7% and Bradesco dropping 1.2%. Eneva slid 3.4% despite reporting robust first-quarter results, while Marfrig ended the session stable after posting solid earnings. Moving in the opposite direction, Petrobras advanced 1%, supported by the uptick in oil prices, which buoyed energy stocks.