23.04.202613:59:41UTC+00Ibovespa Slips on Iran Tensions

The Ibovespa slipped and hovered near 192,000 points on Thursday as Iran tightened control over the Strait of Hormuz, reigniting concerns about maritime trade with no sign of peace talks resuming. On Wednesday, Iranian forces seized two vessels attempting to leave the Strait and demanded that the United States lift its naval blockade, which remains in place despite President Trump’s decision to extend the ceasefire indefinitely.

Oil prices climbed on the renewed geopolitical tensions, stoking fears of energy-driven stagflation and the prospect of further interest rate hikes. Rising bond yields added to the pressure on the financial sector, amid worries about softer credit demand; Banco do Brasil, Itaú, and Bradesco all edged lower.

In commodities, Vale declined 0.5% following a drop in iron ore prices, while Petrobras fell nearly 1% amid uncertainty over the oil price outlook. Bucking the broader market trend, WEG advanced almost 2%, supported by strong first-quarter results from ABB, seen as a positive signal for underlying industrial demand.