The Ibovespa inched higher on Thursday, trading near the 169,000 level, supported by gains in the utilities and services sectors. In utilities, Axia (+1.5%) completed the assignment of credits held against Amazonas Energia in a transaction worth R$554.1 million. Engie (+3%) approved a share offering tied to its planned acquisition of a stake in the Jirau hydroelectric plant and suspended its guidance as the transaction moves forward. In services, Rede D'Or rose more than 2.5% after data showed Brazil’s services activity expanded 1.2% in April.
On the international front, US President Trump said Washington would strike Iran again and stepped up pressure on Tehran to reach a deal, threatening to take control of key energy infrastructure. Despite the renewed rhetoric, oil prices fell, pulling bond yields lower and easing concerns over energy-driven inflation. Major banks also advanced, with Bradesco and Itaú each gaining 0.5%.
