Brazil markets, iron ore, oil, Telefônica, BTG profits

Stock markets, oil, and bitcoin showed mixed movements on Monday morning. Germany’s DAX index was down 0.03%, while London’s FTSE 100 also traded lower. Brent crude oil, a benchmark for Petrobras, rose 2.52% to $103.8 per barrel. Gold futures for February 2026 fell 1.21% to $4,673 per troy ounce.

In daytime trading, iron ore futures on China’s Dalian exchange closed up 0.73% at 822.5 yuan, or about $120.9. This price movement can affect shares of Brazilian mining companies Vale and CSN Mineração. The contract price may still fluctuate in the coming hours.

On Wall Street, Dow Jones futures were down 0.05% at 7:54 AM, while S&P 500 futures fell 0.10%. Nasdaq futures dropped 0.14%.

Corporate Earnings and Results

Telefônica Brasil reported net income of 1.26 billion reais for the first quarter of 2026, up 19.2% compared to the same period in 2025. EBITDA rose 8.9% year-over-year to 6.209 billion reais, with a margin of 40.2%, an increase of 0.5 percentage points. Net revenue totaled 15.4 billion reais, a 7.4% increase from the first quarter of 2025.

BTG Pactual reported adjusted net income of 4.80 billion reais for the first quarter of 2026, up 42.3% from the same period in 2025. Accounting net income was 4.570 billion reais, up 4.1% from the previous quarter and 42.4% year-over-year. Return on equity was 26.6%, down from 27.6% in the fourth quarter of 2025 but up from 23.2% in the first quarter of 2025. Total revenue hit a record 9.96 billion reais, up 0.8% from the previous quarter and 34.3% year-over-year, including the consolidation of Banco Pan. Investment banking revenue was 627.9 million reais. Corporate lending posted record revenue of 2.332 billion reais. Sales and trading revenue was 1.877 billion reais. Asset management revenue was 783.4 million reais. Wealth management reached record revenue of 1.516 billion reais, up 10.7% from the previous quarter and 44.6% year-over-year. Equity ended the period at 74.5 billion reais.

Copasa reported net income of 368.1 million reais for the first quarter of 2026, down 14.1% from the same period in 2025. EBITDA was 787.4 million reais, down 3.2% year-over-year. Net revenue reached 1.91 billion reais, a slight increase of 2.5%.

Corporate Actions and Renewals

Riachuelo announced its board approved the distribution of interest on equity totaling 40 million reais, or about 0.07967127013 reais per share. The payment will come from the sale of land from a former factory in Fortaleza. The company said this aligns with its strategy to improve its capital structure. Payment will occur on December 28, 2026. Shareholders as of May 13, 2026, are eligible. Starting May 14, shares will trade ex-interest on the B3 stock exchange.

Grupo SBF approved the cancellation of 13,891,336 shares bought under a share buyback program approved in December 2024. After the cancellation, 398,281 shares remain in treasury. The buyback program has ended. The company’s share capital is now divided into 230,663,994 shares. An extraordinary general meeting will be called to adjust the share count.

Grupo Energisa signed contracts on Friday renewing its electricity distribution concessions for 30 more years in the states of Mato Grosso, Mato Grosso do Sul, Paraíba, and Sergipe. The company plans to invest about 18 billion reais in these states over the next five years, which serve 5.7 million customers. The CEO said the early contract signing strengthens legal certainty and long-term planning. Investment increases compared to the previous cycle range from 18% to 41% across the states. Funds will go to expanding and modernizing electrical infrastructure.

Light announced Friday that it signed an amendment extending its electricity distribution concession for 30 years, from June 4, 2026, to June 4, 2056. The company said this marks a new operational cycle and is a key step in its judicial recovery plan, leading to future events including company capitalization.

CPFL Energia reported Friday that its subsidiaries CPFL Piratininga, CPFL RGE, and CPFL Paulista signed amendments extending their distribution concessions for 30 years. The extensions take effect from October 2028 for CPFL Piratininga, November 2027 for CPFL RGE, and November 2027 for CPFL Paulista. The companies serve about 10.3 million customers across 642 municipalities in São Paulo and Rio Grande do Sul states.

Equatorial also signed an amendment to its concession contract.