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The Ibovespa advanced 0.5% on Friday, closing at 177,999 points, as investors digested Vale’s earnings and a tender offer by Santander to repurchase its shares in Brazil. Santander jumped 15.2% after the buyback announcement. Vale inched up 0.2% after posting second-quarter 2026 results that beat revenue and earnings forecasts and raising its guidance for 2026, despite a 35% year-on-year drop in profit.
Petrobras extended its recent rally, gaining 1.3% as oil prices rose amid renewed tensions between the United States and Iran. WEG (+0.8%), Sabesp (+1.1%), Rede D'Or (+0.6%), and Embraer (+0.9%) also ended the session higher.
Trading opened later than usual due to an operational failure at the stock exchange, heightening concerns about market reliability, particularly among foreign investors.
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On the macroeconomic front, Brazil’s gross public debt-to-GDP ratio climbed to 81.9% in June from 81.0% in May, reinforcing expectations that borrowing costs are likely to remain elevated.
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