FX.co ★ Ibovespa Falls on Petrobras Results and Inflation Concerns

The Ibovespa fell 0.9% on Tuesday, closing at 180,342 points, weighed down by disappointing Petrobras earnings and losses in major bank stocks. Petrobras retreated 1.6% after reporting a 7.2% year-on-year drop in first-quarter 2026 net profit, along with weaker adjusted EBITDA and lower diesel and gasoline revenues. Banking shares also moved lower as Brazil’s April inflation reading accelerated, driven by higher food and fuel prices and pushing inflation closer to the upper bound of the central bank’s target range. The figures intensified concerns that persistent price pressures could slow the pace of future Selic rate cuts. Rising bond yields further stoked worries about higher borrowing costs and softer credit demand. Itaú slipped 1.1%, Bradesco fell 0.9%, and Itaúsa declined 1.7%, despite all three delivering solid quarterly results. On the upside, Hapvida jumped 9.3% after reporting earnings that beat market expectations.