The Ibovespa fell nearly 1% on Friday, slipping below 176,500, amid growing uncertainty over peace talks between the United States and Iran. Iran’s foreign minister met with Pakistan’s interior minister to discuss proposals aimed at ending the conflict. On Thursday, US Secretary of State Marco Rubio noted “some positive signs” in the negotiations but highlighted persistent disagreements over Tehran’s uranium stockpile and control of the Strait of Hormuz.
Investors remained wary of potential disruptions in the strait, which have driven oil prices sharply higher since the conflict began and reshaped global interest-rate expectations due to mounting inflation concerns. However, Petrobras retreated nearly 2% as oil prices pulled back from recent highs. Utilities also traded lower, with Axia and Sabesp both down more than 1%. Other notable decliners included Ambev (-1%) and Rede D'Or (-1%). In contrast, Vale gained 0.4%, supported by a modest increase in iron ore prices.
