Ibovespa falls nearly 1% as banks and Petrobras slide
Ibovespa fell nearly 1% to trade below 184,000 on Friday, dragged by energy and banking. Petrobras slid nearly 1% as oil pulled back; Itaú and Bradesco shed more than 0.5% amid September US Fed rate-hike expectations.
The Ibovespa fell nearly 1% to trade below 184,000 on Friday, weighed down by losses in the energy and banking sectors.
Oil prices pulled back despite ongoing tensions between the US and Iran, dragging Petrobras down nearly 1%.
Major banks also traded mostly lower as expectations for a September US Fed rate hike increased following a strong US jobs report.
Itaú and Bradesco shed more than 0.5%.
Among other financials, Itaúsa fell about 0.5%, while B3 declined nearly 1%.
Utilities also traded lower, with Axia down nearly 0.5% and Sabesp losing around 1%.
Vale edged lower as iron ore prices remained muted.
WEG fell nearly 1%, while Rede D’Or declined about 0.5%.
The latest Datafolha poll on Brazil’s presidential race, released on Thursday, showed President Lula’s numerical lead over Senator Flávio Bolsonaro narrowing, reinforcing a technical tie between the two in a potential October runoff.