FX.co ★ Ibovespa Slips on Venezuela Oil Uncertainty

The Ibovespa index dipped below the 163,500 mark on Wednesday, influenced by fresh geopolitical tensions following the United States' decision to enforce stricter control over Venezuela’s oil sector. President Donald Trump announced that the U.S. would receive millions of barrels of Venezuelan oil, prompting wary responses from the market. Petrobras’ shares remained mostly unchanged due to the uncertain future of Venezuelan oil imports, while Vale witnessed a 0.2% rise, attributed to increasing iron ore prices. The banking industry faced declines; Itaú fell by 0.4%, Bradesco by 0.3%, and Banco do Brasil lost over 0.5%. The utilities sector also experienced downturns with Axia leading the losses, dropping over 1%. Other underperforming stocks included WEG, down 0.8%, Ambev, down 0.5%, and Rede D'Or, down 0.8%. On a positive note, Embraer climbed by 0.3%, thanks to exceeding Itaú BBA’s expectations by delivering 85 jets compared to the 80 projected.