The Ibovespa slipped 0.1% to close at 166,934 on Friday, extending its seven‑month low. Oil and gas stocks advanced as the United States threatened to ratchet up economic pressure on Iran, including by reinforcing a naval blockade. The prospect of higher energy-driven inflation pushed bond yields up, pressuring financials and other credit-sensitive shares.
Among the major banks, Bradesco fell 0.7%, Itaúsa declined 0.4% and B3 lost 0.6%, while Itaú (+1.8%) and Banco do Brasil (+0.9%) bucked the negative trend. Utilities also traded lower: Sabesp dropped more than 2%, and CPFL slid over 4.5% after releasing earnings that showed only modest growth in its industrial segment and a 19.2% increase in net debt.
In the retail and energy space, Renner retreated 2.6% after UBS BB dropped its buy recommendation and cut its price target. Raízen sank 4% after reporting a net loss in the first quarter of fiscal 2026/27. Heavyweights Vale (-0.8%), Ambev (-1.1%) and Rede D’Or (-2.5%) also dragged on the benchmark.
On the upside, Petrobras gained 0.4%, supported by higher oil prices, while Embraer advanced 2.4% after JPMorgan raised its price target.
