The Ibovespa closed virtually flat at 168,334 on Friday in a session characterized by reduced global liquidity, as investors closely followed developments in the Middle East. Peace talks between the United States and Iran were postponed. The negotiations, which were to be held in Switzerland and focused on Iran’s nuclear program in the wake of a recently signed memorandum of understanding, were delayed, injecting new uncertainty into the timeline for discussions viewed as crucial to reopening the Strait of Hormuz and normalizing oil shipments.
Oil prices staged a modest rebound, rekindling worries about energy-driven inflation. In response, bond yields moved higher, reviving concerns over financing and borrowing costs. Among equities, major banks underperformed, with Itaú down 1.5% and Bradesco off 0.7%. In contrast, utilities advanced, led by a 0.6% gain in Axia. Vale also added 1%, supported by resilient iron ore prices.
