The Ibovespa slipped 0.1% to close at 173,714 on Friday, pressured by losses in financial stocks, while gains in the energy sector partially offset the decline. The escalation of attacks between the US and Iran across the Gulf, and the breakdown of their truce, disrupted oil flows through the Strait of Hormuz. This conflict drove oil prices higher, fueling inflation concerns and weighing on financial shares and the broader market, even as it supported energy names.
In the banking sector, Itaú fell 1.4%, Bradesco dropped 0.6%, and both Itaúsa and Banco do Brasil declined 1.3%. In contrast, Petrobras advanced 2.5%. Utilities delivered a mixed performance: Axia gained 0.9%, while Sabesp slipped 0.3%. Steelmakers also traded mixed after the US announced a new 25% tariff on Brazilian steel imports. CSN lost 1.0%, whereas Gerdau rose 0.5%.
On the macroeconomic front, the IBC-Br economic activity index edged up 0.1% month-over-month in May 2026, slowing from a 0.5% increase in April but slightly beating expectations for no change.
