The Ibovespa slipped to around 167,500 on Thursday as rising oil prices added to inflation concerns. Crude prices climbed after US President Donald Trump announced a package of measures targeting Iran’s economy. Higher bond yields also pressured the market, weighing on financial stocks. Itaú and B3 each declined 0.5%, while Itaúsa and Banco do Brasil fell nearly 1%.
In commodities, iron ore prices in China closed lower amid persistently weak steel demand, pulling Vale and CSN Mineração down 1% apiece. Steelmakers also retreated, with Gerdau dropping about 5%. Other notable underperformers included Axia, WEG, and Embraer, all down around 1%.
On the positive side, Petrobras advanced 1% on the back of higher oil prices, helping to cushion the index’s overall losses.
