The Ibovespa inched higher on Friday, hovering near the 173,000 mark as investors digested May industrial production figures and June services PMI data. The services sector expanded at a slightly faster pace in June amid stronger demand, bolstering stocks tied to domestic tertiary activity. Rede D'Or rose nearly 1%, Raia Drogasil advanced 1.5%, and both Bradesco and Banco do Brasil added about 0.5%.
At the same time, oil prices held near pre-conflict lows on optimism over potential US–Iran peace progress, easing worries about energy-driven inflation and lending support to financials and the broader index. In contrast, industrial production grew only 0.2% year-on-year in May, far short of the 1.3% increase expected by analysts, and Ambev slipped nearly 1%.
Investors also kept an eye on Washington’s decision to open a public consultation on Brazil’s trade policies and practices, while awaiting the latest trade balance data.
