Dollar closes falling and Ibovespa remains stable with tension in the Middle East

The Ibovespa ended the session close to stability, with a slight drop of 0.03%, at 173,325 points, after fluctuating throughout the session.

João Daronco, an analyst at Suno Research, states that the day of little movement was focused on the continuation of the conflict between the USA and Iran, a scenario that makes it difficult for the Brazilian market to perform more consistently. Among the highlights of the session, experts followed the shares of Vale, which releases, after the market closes, production and sales data for the second quarter. In the first moments of the session, shares rose close to 1.5%. At the end of the trading session, the mining company's shares closed up 0.43%.

Daronco states that the market expects a strong second quarter for Vale. For the coming months, however, the outlook is less favorable, given the expectation of a slowdown in iron ore prices, mainly due to China. In addition, investors are also following the change of chairman of the mining company's board, which takes place this Wednesday.

At 5:06 pm, a barrel of Brent oil was trading at US$91, up 2.53%. With the rise in oil prices, Petrobras shares rose 1.82% this Tuesday.

MBRF shares rose 4.06% after the company announced, in a statement, the cancellation of 21.4 million shares held in treasury.

Treasury shares are securities repurchased by the company itself and kept in its portfolio. Gabriel Cecco, specialist at Valor Investimentos, explains that, with the cancellation, these shares cease to exist. In practice, the company's profit is divided between a smaller number of securities, which increases indicators such as earnings per share (EPS) and dividends per share, if the company distributes dividends.

As a result, each shareholder now represents a slightly larger stake in the company. According to Cecco, this effect helps to explain the appreciation of shares in this Tuesday's trading session.

This Tuesday also marks the tenth consecutive day of attacks in the Middle East. The offensives ended last month's ceasefire, which had provided temporary relief to markets.

Iran's Revolutionary Guard claimed, on Monday (20), to have struck American military targets, after another night of US bombings against Iranian cities.

The new phase of the conflict has shifted the focus to the Strait of Hormuz, through which around a fifth of the oil consumed in the world passes. Still on Monday, both the United States and Iran signaled their willingness to resume negotiations in search of a truce in the conflict.

Despite signs of resumption of negotiations, however, the war continues to expand. Yemen's Houthis, an Iran-aligned group, said they have imposed a naval blockade on Saudi Arabia. The measure opens a new front in the conflict and increases the risks to global energy supplies beyond the Gulf region.

On Wall Street, the main indices closed higher, recovering part of the losses accumulated in the previous three sessions. American markets have been pressured in recent days by uncertainties surrounding investments in artificial intelligence.

Fernando Siqueira, head of research at Eleven Financial, states that Tuesday's movement was mainly driven by technology stocks. According to him, the impact on the Brazilian market tends to be more limited, as the Brazilian Stock Exchange has less exposure to this sector.

The Dow Jones rose 0.74%, the S&P 500 advanced 0.90% and the Nasdaq rose 1.29%.

Juliana Benvenuto, allocation and intelligence coordinator at Avenue, states that, despite recent optimism, the market remains selective with technology companies. According to her, Morgan Stanley downgraded its recommendations for Adobe and Salesforce due to concerns that the advancement of artificial intelligence could compromise the growth of software companies.

"The market is becoming more selective within technology, trying to separate those who benefit from artificial intelligence from those who could be run over by it", says the expert.

On investors' radar now is earnings season in the United States. This Wednesday (22), Tesla and Alphabet open the results round for large technology companies. The following week, it will be the turn of Microsoft, Meta, Apple and Amazon.

In Brazil, the futures interest rate market ended the session with slight increases. The DI (Interbank Deposit) rate for January 2028 closed at 14.140%, an increase of 0.01 percentage points. The contract for January 2035 ended the day at 14.645%, an increase of 0.04 percentage points.

The ten-year Treasury yield fell 0.03 percentage points, to 4.62%. In this session, the DXY index, which measures the dollar's performance against a basket of six strong currencies, rose 0.22%, to 101.17 points.

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