The Ibovespa slipped 0.2% on Monday, closing at 172,180, as a sharp rise in oil prices pressured the index. Crude rallied after the odds of a deal to fully reopen the Strait of Hormuz deteriorated: US President Donald Trump rejected Iran’s demands for war-related compensation, while Tehran insisted that Washington must lift its blockade before agreeing to restore full passage through the waterway.
The spike in energy prices revived inflation worries, weighing on bank shares and the broader market. Itaú fell 0.8%, and Bradesco declined 0.7%. Axia dropped 2.3%, even as brokerages emphasized its strong dividend potential and raised their target prices.
On the positive side, Petrobras advanced 3.3% on the back of higher oil prices. Vale gained 1.3% despite weaker iron ore quotations. Embraer rose 2.3% after releasing a stronger-than-expected 2Q26 earnings report.
Ahead of their scheduled results after the close, Itaúsa slipped 0.7%, while Caixa Seguridade (-2%), Natura (-2.4%), and JBS (-1.7%) also declined.
