Ibovespa eases as oil rises and yields climb
The Ibovespa edged lower to trade around 167,500 on Thursday as higher oil prices, firmer bond yields and weaker iron ore prices pressured the index.
The Ibovespa edged lower to trade around 167,500 on Thursday as oil prices rose, increasing inflationary pressures.
Crude prices jumped after US President Donald Trump announced a package of measures aimed at hurting Iran’s economy.
Bond yields moved higher, weighing on financial stocks and the broader market.
Itaú and B3 fell 0.5% each, while Itaúsa and Banco do Brasil shed nearly 1%.
Meanwhile, iron ore prices in China closed lower amid persistently weak steel demand, dragging Vale and CSN Mineração down 1% each.
Steelmakers also posted losses, with Gerdau falling about 5%.
Other notable laggards included Axia (-1%), WEG (-1%), and Embraer (-1%).
In contrast, Petrobras helped limit the index’s losses, rising 1% on higher oil prices.