04.09.202613:31:13UTC+00Ibovespa Declines as Banks and Petrobras Slide

The Ibovespa dropped nearly 1% on Friday, slipping below the 184,000 mark, pressured mainly by declines in the energy and banking sectors. Oil prices retreated despite persistent tensions between the United States and Iran, weighing on Petrobras, which fell close to 1%. Major banks also traded mostly lower as expectations of a US Federal Reserve rate hike in September intensified following a strong US jobs report, with Itaú and Bradesco each losing more than 0.5%.

In other financials, Itaúsa declined about 0.5%, while B3 slid nearly 1%. Utilities were also under pressure: Axia fell close to 0.5%, and Sabesp dropped around 1%. Vale edged slightly lower amid subdued iron ore prices. WEG retreated almost 1%, and Rede D’Or slipped about 0.5%.

On the political front, the latest Datafolha poll on Brazil’s presidential race, released on Thursday, showed President Lula’s numerical lead over Senator Flávio Bolsonaro narrowing, underscoring a technical tie between the two in a potential October runoff.