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21.07.202613:45:43UTC+00Ibovespa Slips as Financials Weigh

The Ibovespa slipped to just below 173,000 on Tuesday, pressured by declines in financial stocks as persistent strength in oil prices heightened energy-driven inflation concerns. Among major financials, Itaúsa and Bradesco fell close to 0.5%, while Itaú and Banco do Brasil also traded lower. The utilities sector likewise weakened, with Sabesp and Axia down around 0.5%. Other notable underperformers included Rede D'Or, which dropped 3%, and Vivo, down 0.5%.

On the geopolitical front, sentiment was supported by reports that Iran is weighing a mediators' proposal for a 10-day ceasefire in the Middle East, intended as a first step toward a lasting peace accord. Even so, oil prices remained elevated, underpinning Petrobras, which advanced nearly 0.5%. Vale recovered almost 1% after falling in the previous session on the back of lower iron ore prices.

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