The Ibovespa rose 0.5% to close at 177,999 on Friday as investors digested Vale's earnings and Santander's tender offer to repurchase shares in Brazil. Santander surged 15.2% following the announcement. Vale added 0.2% after reporting 2Q26 earnings and revenue above expectations and raising its 2026 guidance, despite a 35% drop in profit. Petrobras extended gains, rising 1.3% as oil prices climbed amid renewed tensions between the US and Iran. WEG (+0.8%), Sabesp (+1.1%), Rede D'Or (+0.6%), and Embraer (+0.9%) also advanced. Trading opened later than scheduled due to an operational failure at the stock exchange, raising concerns about market reliability, particularly among foreign investors. On the macro front, Brazil's gross public debt-to-GDP ratio rose to 81.9% in June from 81.0% in May, reinforcing expectations that borrowing costs may remain elevated.