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Indices

Ibovespa Closes Near Flat as US-Iran Talks Stall

The Ibovespa was virtually unchanged at 168,334 on Friday in a session marked by lighter global liquidity, as investors monitored developments in the Middle East. Peace talks between the US and Iran were postponed. The discussions, scheduled to take place in Switzerland and aimed at addressing Iran’s nuclear program following a recently signed memorandum of understanding, were delayed, adding fresh uncertainty over the timeline of negotiations seen as key to reopening the Strait of Hormuz and normalizing oil flows. Oil prices rebounded modestly, reviving concerns over energy-driven inflation. Bond yields moved higher in response, renewing concerns over borrowing costs. Heavyweight banks traded lower, with Itaú down 1.5% and Bradesco falling 0.7%. Meanwhile, utilities advanced, with Axia up 0.6%. Vale also gained 1% as iron ore prices held firm.

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