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2026.07.0114:08:16UTC+00Ibovespa Falls Following New Election Poll

The Ibovespa retreated nearly 1% to remain above 170,000 points on Wednesday, as investors digested a new presidential election poll and stayed cautious ahead of key US labor market data. An AtlasIntel/Bloomberg survey showed President Lula with a 6.5-point advantage over Flávio Bolsonaro in a hypothetical runoff, reinforcing expectations of a more fiscally dovish administration. Financial stocks led the declines, with Itaú and Bradesco slipping nearly 1%. Utilities also weakened, with Axia losing close to 2%. Petrobras fell almost 1% as oil prices hovered near pre-conflict levels. Vale dropped close to 1% amid falling iron ore prices, after new EU steel import restrictions fueled concerns about weaker demand for steelmaking raw materials. Steelmakers followed suit, with Gerdau down more than 1%.

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