24.04.202620:34:42UTC+00Ibovespa Edges Lower on US-Iran Standoff

The Ibovespa slipped 0.3% to close at 190,745 on Friday, as investors remained focused on escalating tensions between the United States and Iran. Tehran asserted control over the Strait of Hormuz in response to the US blockade, with little indication that shipping lanes will reopen in the near term.

Brent crude prices stayed elevated, intensifying concerns over global inflation and economic growth and weighing on major banks and the broader index. Bradesco declined 0.6%, while Banco do Brasil fell 1.3%.

Petrobras retreated 1.3% after giving up strategic rights in Braskem, whose shares rose 1.2% on the news. Meanwhile, Suzano slipped 2.2% even as it announced pulp price increases for customers in Europe and the Americas starting in May, citing higher costs linked to the conflict in the Middle East.

On the upside, Usiminas advanced 4.4% after more than doubling its first-quarter profit to R$896 million. Sabesp also edged higher after receiving approval from Brazil’s antitrust regulator to acquire full (100%) control of Paulista Geradora de Energia.