Brazil’s benchmark Ibovespa index finished the week virtually unchanged, closing at 173,714 points on Friday.
The flat result masked significant sector rotation, as gains in energy stocks were largely erased by selling pressure in the banking sector.
Petrobras (BBAS3.SA) led the advance, providing crucial support for the index amid broader market caution.
The state-controlled oil major’s outperformance reflected sustained investor interest in the energy complex, likely buoyed by stable crude prices and domestic production dynamics.
Conversely, major Brazilian banks faced headwinds, dragging down the financials segment and capping upside for the broader index.
The mixed session follows a period of volatility for Brazilian equities.