The Ibovespa fell about 0.5% on Thursday, slipping below 185,000 points, pressured by higher-than-expected mid-month inflation data and mixed signals from the war in the Middle East. Although the IPCA-15 decelerated in March as seasonal back-to-school effects faded, food and personal expenses kept inflation above market forecasts. The 12-month rate continued to ease but remains above the 3.0% target, increasing uncertainty over the path of interest rates. At the same time, oil prices have been rising amid the conflict involving Iran, with no clear end in sight, further complicating central banks’ rate decisions.
Major banks closed lower, with Itaú down 1% and Bradesco 0.6%. Utilities also traded in negative territory, as Axia and Sabesp both lost more than 1%. Among other heavyweights, Vale and WEG each slipped 0.6%, while Ambev fell 0.5%. On the upside, Petrobras gained nearly 1% on the back of stronger oil prices. Americanas was a standout, surging close to 17% after filing to exit judicial recovery, advancing asset sales, and reporting a sharp improvement in its fourth-quarter 2025 results compared with the same period in 2024.
