The Ibovespa slipped below 182,500 on Friday as sentiment remained weak amid persistent tensions in the Middle East. US President Trump’s decision to extend his ultimatum to Iran failed to calm energy markets, with oil prices climbing further. The renewed spike in crude fueled inflation worries and pushed bond yields higher, putting pressure on equities.
Banking stocks were among the main drags: Itaú and Bradesco fell more than 1%, while Banco do Brasil dropped over 2%. The utilities sector also extended losses, with Axia down 1.5%. Other notable underperformers included WEG and Rede D’Or, each losing around 1%.
In contrast, Petrobras added about 1%, extending its recent rally on the back of higher oil prices. Braskem was a major outlier on the downside, plunging 10.4% after reporting a Q4 2025 loss of R$10.28 billion.
In corporate news, Goldman Sachs turned more cautious on Hapvida, cutting its recommendation from Buy to Neutral and trimming its price target; the stock fell 3.8%. Azul sank more than 5% after disclosing a net loss of R$1.6 billion for Q4 2025. Meanwhile, Ambev advanced 1%, supported by Thursday’s announcement of a $1 billion investment in initiatives to promote responsible alcohol consumption.
