The Ibovespa fell more than 1% on Monday, May 11, influenced by geopolitical tensions in the Middle East and domestic inflation data.
The main B3 index closed the session down 1.19% at 181,900 points. The decline reflects the lack of agreement between the United States and Iran to end the Middle East conflict.
On Sunday night, President Donald Trump described Iran’s proposed conditions as “totally unacceptable.” Brent crude rose to around 104 dollars a barrel, increasing global inflationary pressures.
In Brazil, the Focus bulletin showed rising inflation expectations, from 4.89% to 4.91%, above the target ceiling. The Selic rate is expected to end the year at 13%. Banks such as Bradesco and Santander led losses, falling more than 2.5%.
The dollar closed virtually stable at 4.89 reais. The real has appreciated more than 10% year-to-date, supported by foreign inflows and commodity exports.
