The Ibovespa slipped on Friday and struggled to hold the 191,000 level, pressured by heightened global risk aversion linked to escalating tensions in the Middle East, as investors tracked the standoff between the US and Iran. In response to the US blockade, Tehran asserted control over the Strait of Hormuz, with few indications that the waterway will reopen in the near term. Brent crude hovered around $105 per barrel, stoking inflation concerns and fears over global growth, which weighed on major banks and the broader index. Itaú and Bradesco inched lower, while Banco do Brasil declined more than 1%.
Petrobras dropped over 1.5% after relinquishing its strategic rights in Braskem, which in turn advanced 1.8%. Other notable underperformers included Ambev, down 1.1%, and Rede D'Or, down 0.5%. On the positive side, Usiminas jumped about 7.5% after more than doubling its first-quarter profit to R$896 million, and Sabesp rose more than 1.5% after receiving approval from Brazil's antitrust regulator to acquire 100% of Paulista Geradora de Energia.
