Petrobras AGM Day: R$8.1B Dividend Vote and Mello Chairmanship Decide the Brazil Trade at ~$95 Brent — Ibovespa Snaps 11-Session Streak at 197,737 (−0.46%) After 18th Nominal Record Tuesday, Real Holds Near R$4.99 — Peru Overtake Completed: Sánchez Passes López Aliaga at 91.75% Count, Now 12.07% vs 11.85%, Renovación Popular Denounces “Electoral Sabotage,” JNE Confirmation May 15 — Trump Signals US-Iran Talks in Pakistan by Friday, Brent Eases to $95, Israel-Lebanon Agree to Direct Negotiations — Mexico IPC Rebounds +1.01% to 69,634 on Peso Strength — Chile IPSA Consolidates at 11,311 After Tuesday Surge — Bolivia Six-Department Runoff Sunday — CNT/MDA Poll: Lula 39.2% vs Flávio Bolsonaro 30.2%
Executive Summary
The Big Picture: Today’s Latin American Pulse opens with the single most consequential corporate event of the regional calendar: Petrobras’ Assembleia Geral Ordinária, convened at Rio de Janeiro headquarters to decide R$8.1 billion in Q4 2025 dividends, the capital budget, and the ascension of Treasury Secretary Guilherme Mello to the chairmanship of the Conselho de Administração. Total 2025 shareholder remuneration — including anticipated JCP payments already made — would reach R$41.2 billion if the AGM approves the proposal. The stakes are amplified by the market context: the Ibovespa closed Wednesday at 197,737.61, down 0.46%, breaking an 11-session winning streak but holding the 197,000 line after Tuesday’s fifth consecutive all-time high at 198,657 and intraday peak of 199,354. The real remains anchored near R$4.99 — the strongest level in over two years — and R$56.5 billion in year-to-date foreign equity inflows continue to anchor the Brazil trade. With Brent easing from $103 back toward $95 on Trump’s signals that US-Iran talks may resume in Pakistan by Friday April 17, Petrobras enters today’s vote at a pricing sweet spot: high enough to justify generous distributions, low enough to require discipline on capex. This is part of The Rio Times‘ comprehensive coverage of Latin American financial markets and economic developments.
In Lima, the overtake has happened. At 91.75% of actas processed, Roberto Sánchez Palomino has moved into second place with 12.068% — 1,824,213 votes — displacing Rafael López Aliaga, who has fallen to 11.852%. Keiko Fujimori remains locked in first at 17.04% and is unambiguously headed to the June 7 segunda vuelta. The question is who joins her. Sánchez’s rise was powered by the Cajamarca-Ayacucho-Puno belt and the Castillista highlands, where rural actas continue to arrive; López Aliaga has responded not by conceding ground but by openly accusing ONPE chief Piero Corvetto of “electoral sabotage,” describing the process as “a destruction” and calling for his arrest. The JNE has signalled the official segunda vuelta lineup will not be confirmed until May 15. The sol, which had decoupled from regional EM strength earlier in the week on precisely this risk, is now pricing an institutional confrontation — not just an electoral one.
Across the rest of the hemisphere, the tone softened on easing geopolitical risk. Trump’s announcement that Washington and Tehran may reconvene in Islamabad with a view to sealing a durable agreement before the April 22 ceasefire expiry pulled Brent back to $95, lifted US equities toward new highs, and triggered a rotation out of oil names into broader cyclicals. Mexico’s IPC rebounded 1.01% to 69,634.71, breaking a three-session losing streak as the peso firmed against a weaker dollar. Chile’s IPSA consolidated at 11,311.66 (−0.20%), taking a breather after Tuesday’s 1.83% rally to a new 2026 high. Argentina continues to be dominated by the Adorni scandal — the Chief of Staff will deliver his congressional report on April 29, with President Milei reportedly considering attending in person. And in Brasília, a fresh CNT/MDA poll released Tuesday shows Lula at 39.2% against Senator Flávio Bolsonaro at 30.2% in a first-round 2026 presidential matchup — the political backdrop against which today’s Petrobras AGM is being decided.
Risk Snapshot
| Country | Key Driver | Risk Level |
|---|---|---|
| Brazil | Petrobras AGM today: R$8.1B dividend + Mello chairmanship; IBOV 197,737 (−0.46%, 11-streak broken); real ~R$4.99; Focus IPCA 4.71%; Lula 39.2% in CNT/MDA | BULLISH |
| Peru | ONPE 91.75%: Sánchez 12.07% overtakes López Aliaga 11.85% — gap ~32K votes; López Aliaga denounces “electoral sabotage,” calls for Corvetto arrest; JNE resolution ~May 15 | CRITICAL |
| Mexico / Argentina | IPC +1.01% to 69,634 on peso strength + global risk-on; Adorni congressional report Apr 29, Milei may attend; Ley Hojarasca and desregulación on agenda | ELEVATED |
| Global | Trump: Iran “wants a deal”; US-Iran talks in Pakistan by Fri Apr 17; Brent eases to ~$95; Israel-Lebanon accept direct negotiations; ceasefire expires Apr 22 | EASING |
Brazil: Petrobras AGM Day — R$8.1B Dividend Vote and Mello’s Chairmanship Decide the Template for the Lula Second Half
IBOV: Tue 198,657 (5th consecutive ATH, 18 nominal records YTD, 11th straight gain, intraday 199,354); Wed 197,737.61 (−0.46%, streak broken, month still +5.48%, YTD +22.72%); vencimento de opções reinforced volume at R$38.3B; PETR3 led declines Tue −4.44% to R$52.52 as Brent eased from $103 to ~$95, PETR4 −3.82% to R$47.88; Vale +1.08% Tue; Petrobras AGM today: R$8.1B dividend proposal, total 2025 remuneration R$41.2B, cut-off Apr 22, ex-date Apr 23, payments May 20 + Jun 22; Guilherme Mello (Treasury Secretary, arcabouço fiscal architect) expected to assume conselho presidency; USD/BRL ~R$4.99 (~R$4.9879 open Wed); Focus IPCA 4.71% (5th consecutive upward revision, above target ceiling); Selic 14.75%, market sees 12.50% YE; R$56.5B foreign equity inflows YTD; CNT/MDA poll: Lula 39.2% vs Flávio Bolsonaro 30.2% in first round
What Happened
- —The AGM agenda: Petrobras shareholders convene today in Rio de Janeiro to vote on the R$8.1 billion dividend proposal relative to Q4 2025, which — when added to anticipated payments updated by the Selic rate through December 31, 2025 — brings total 2025 shareholder remuneration to R$41.2 billion. The distribution will be paid in two tranches of R$0.31311454 per share (both ordinary and preferred), on May 20 and June 22, both as juros sobre capital próprio. The B3 cut-off is April 22; shares trade ex-dividend from April 23. The second pillar of today’s vote is the chairmanship transition: Guilherme Mello, currently Treasury Secretary and the architect of Lula’s fiscal framework, is expected to be formally elevated to president of the Conselho de Administração — a structural signal that economic policy coordination and Petrobras governance will be tightened ahead of the October 2026 election cycle.
- —The Ibovespa pullback: After Tuesday’s intraday touch of 199,354.81 — the highest in the index’s history — and a close at 198,657.33, a fifth consecutive record, the index finally paused on Wednesday. It closed at 197,737.61, down 0.46%, with volume reinforced by options expiry at R$38.3 billion. On the week the index still advances 0.21%, the month +5.48%, and YTD +22.72%. Petrobras led Tuesday’s laggards: with Trump’s signal that Tehran “wants a deal” pulling Brent from $103 toward $95, PETR3 fell 4.44% to R$52.52, leading the Ibovespa’s negative side, while PETR4 dropped 3.82% to R$47.88. The company shed nearly R$29 billion in market cap in a single session. Vale, by contrast, rose 1.08%. The broader index composition has shifted: the rally is no longer carried by oil but by banks, utilities, and Vale, which is why Wednesday’s PETR drag couldn’t overwhelm — only pause — the structural bid.
- —The FX and rates backdrop: The real continues to hold near R$4.99, with the Wednesday session opening at R$4.9879 after Monday’s historic close below R$5.00 — the first since March 2024. Real rates near 9% ex-ante, a 14.75% Selic, and foreign flows continue to anchor the currency even as the Focus survey raised the 2026 IPCA projection to 4.71%, the fifth consecutive upward revision, above the target ceiling, while leaving the year-end Selic projection unchanged at 12.50%. The political backdrop sharpened on Tuesday with the CNT/MDA presidential poll: Lula 39.2%, Flávio Bolsonaro 30.2% in a first-round matchup — a wider lead than most April surveys had projected, and part of the reason Petrobras governance is being restructured now rather than later.
Why It Matters
The Petrobras AGM is the most important corporate event in Latin America this month because it resolves three questions in a single vote: how much capital flows from the state-controlled oil champion to shareholders (including the Treasury), who controls the governance of that capital allocation going forward, and what signal the Lula government wants to send investors six months before the presidential campaign formally begins. A clean approval of the R$8.1 billion proposal, combined with Mello’s formal elevation, tells the market that the government has internalised the lesson of past dividend controversies: predictable, technically justified distributions at approximately $95 Brent are preferable to political interference that destroys equity value. A contested outcome — or any late amendment from the government shareholder on capex, fuel policy, or extraordinary distributions — would reopen the governance risk premium that Petrobras had finally shed. With the Ibovespa at 197,737, 0.6% below the intraday record and just over 2,260 points from 200,000, the AGM is the pivot: a constructive vote clears the path to break the psychological barrier; a messy one caps the rally.
Key Watch
TODAY: Petrobras AGM vote — R$8.1B dividend + Mello confirmation + capex signalling. IBOV 200K test. USD/BRL sustainability below 5.00. Brent trajectory post-Iran signals. Foreign flow persistence. Copom Apr 28–29 (Selic at 14.75%). October election positioning. Fri Apr 17: US-Iran Pakistan talks. Apr 22: dividend cut-off + ceasefire expiry.
OUTLOOK: BULLISH
Peru: The Overtake Is Complete — Sánchez Displaces López Aliaga, Renovación Popular Denounces “Electoral Sabotage”
ONPE at 91.750% (Wed Apr 15 19:07): Keiko Fujimori 17.044%, Roberto Sánchez 12.068% (1,824,213 votes), Rafael López Aliaga 11.852%, Jorge Nieto 11.058%, Ricardo Belmont 10.150%, Carlos Álvarez 7.857%, Alfonso López-Chau 7.358%; at earlier 89.461% Sánchez passed López Aliaga by ~672 votes, gap has since widened to ~32,000; Sánchez’s rise powered by Cajamarca-Ayacucho-Puno highlands, the “Ruta Castillista” promising to free imprisoned ex-president Pedro Castillo; López Aliaga publicly accuses ONPE chief Piero Corvetto of “electoral sabotage” and “destruction of the process,” demands his arrest; EU mission chief Víctor Rico urges Peruvian authorities to correct detected failures to ensure an orderly second round; JNE: official result expected ~May 15; segunda vuelta Jun 7
What Happened
- —The overtake: According to ONPE’s official report updated Wednesday April 15 at 5:55 PM, Roberto Helbert Sánchez Palomino managed to surpass Rafael Bernardo López Aliaga Cazorla, displacing him from second place in the preliminary count. The crossover occurred earlier in the day at 89.461% of actas processed, when Sánchez registered 11.957% (1,814,339 votes) against López Aliaga’s 11.953% (1,813,667 votes) — a gap of just 672 votes. By 7:07 PM on Wednesday April 15, with 91.750% of votes processed, the standings read: Keiko Fujimori 17.044%, Roberto Sánchez 12.068%, Rafael López Aliaga 11.852%, Jorge Nieto 11.058%, Ricardo Belmont 10.150%, Carlos Álvarez 7.857%, Alfonso López-Chau 7.358%. Sánchez’s growth has been driven entirely by rural acta arrivals from Cajamarca (where he leads at over 40%), Ayacucho, Puno, and the southern Andean belt — the so-called “Ruta Castillista” territory where his campaign explicitly promised to free imprisoned former president Pedro Castillo and resume his political project.
- —The institutional confrontation: Rather than acknowledge the statistical reality of the rural count, López Aliaga has escalated into direct institutional confrontation with the electoral authority. Speaking outside the Jurado Nacional de Elecciones, the former Lima mayor demanded that prosecutors and police “immediately arrest” ONPE chief Piero Corvetto, whom he described as responsible for “un destrozo electoral” — an electoral destruction. “Basically to Mr. Corvetto, what he is paid for is so that on that day it is a clean process, without doubts, immaculate, pure and holy. But no. What he has done is electoral destruction,” López Aliaga stated. He has also alleged “sabotage” without producing evidence. The EU observation mission chief Víctor Rico declined to comment on a possible investigation against Corvetto, noting it is up to Peruvian authorities to act within their competencies, while urging that detected failures be corrected to ensure an orderly second round.
- —The market read: The decoupling of the sol earlier in the week — when the currency weakened against the dollar even as the Brazilian real, Chilean peso, and Mexican peso strengthened on global risk-off — was precisely a Sánchez-overtake hedge. That hedge now has a confirmed catalyst. A Keiko-vs-Sánchez segunda vuelta is the scenario that produces maximum market anxiety: Castillista economic programme, anti-mining rhetoric, references to Antauro Humala’s nationalist movement, and the structural risk of another Castillo-style governance crisis. The JNE estimates the official segunda vuelta matchup will not be confirmed until May 15 — five weeks in which Peruvian copper stocks, the BVL, and the sol must trade through institutional uncertainty as López Aliaga’s camp contests the count.
Why It Matters
Peru has just moved from “probable right-right runoff” to “probable right-left runoff with active institutional challenge.” That is a discrete repricing event, not a continuous one. For LATAM allocators, the decision is binary: either you treat the 12.07%-vs-11.85% gap as the final outcome — in which case Peruvian assets must re-rate to reflect Castillista risk — or you treat López Aliaga’s institutional pressure campaign as a plausible reversal catalyst, in which case you price heightened volatility through mid-May. Neither reading is constructive. The deeper problem is that López Aliaga’s attack on ONPE’s integrity — demanding the arrest of Corvetto, alleging sabotage without evidence — damages the credibility of the outcome regardless of who ultimately comes second. A second round contested on fraud allegations is structurally weaker than one contested on policy, which is what both campaigns, the electoral authorities, and the international observation missions now have to manage through June 7. The Castillo precedent looms: Peru has already lived through a presidency that ended in an attempted self-coup, and the market knows how that story goes.
Key Watch
ONPE progression toward 100%. Sánchez-López Aliaga gap trajectory. Sol and BVL daily reaction. López Aliaga legal challenges against Corvetto. JNE timeline and May 15 target. Congressional interference risk. Nieto third-place dynamics and endorsement paths. June 7 framing.
RISK: CRITICAL
Trump-Tehran: Pakistan-Mediated Talks by Friday Ease the Oil Premium — Brent Retreats to $95
Reuters: US and Iran delegations may reconvene in Pakistan (acting as mediator) by Friday Apr 17 to seal a durable peace agreement; Trump reinforces: Tehran “wants to make a deal”; Israel-Lebanon accept to begin direct negotiations to end hostilities; Brent eases from $103 peak toward $95; DXY dollar index fell 0.25% to 98.117 Tuesday; ceasefire expires Apr 22; scope of potential deal includes Hormuz + Iranian nuclear programme; BTG Pactual raised Brazil 2026 commercial surplus projection to US$90B from US$75B; EM risk premiums broadly tightening
What Happened
- —The diplomatic opening: According to Reuters, US and Iranian delegations may return to meet in Pakistan — which is acting as mediator — to seal a durable peace agreement. President Trump reinforced the optimistic tone by stating that the Tehran government “wants to make a deal.” Washington additionally announced that Israel and Lebanon have accepted to begin direct negotiations to end hostilities, strengthening the perception that the regional escalation risk has diminished. Both sides reportedly already have an “agreement in principle” to hold new conversations in Pakistan this weekend, according to anonymous regional officials cited by Associated Press, with the aim of reaching — before the April 22 ceasefire expiry — an accord that covers both Hormuz and the Iranian nuclear programme.
- —The market translation: Brent has retreated from its Tuesday peak above $103 toward $95 — an eight-point move that reversed the Hormuz-premium of recent weeks. The dollar index DXY fell 0.25% Tuesday to 98.117 as global risk appetite returned. For Latin America, the effect is mixed but broadly constructive: oil importers (Chile, Central America, parts of the Caribbean) receive immediate fiscal relief; oil exporters (Brazil, Colombia, Mexico, Ecuador) give back some of the windfall but benefit from the broader EM rotation. Brazil’s position is particularly favourable: BTG Pactual raised its 2026 commercial surplus projection to US$90 billion (from US$75 billion) — that forecast becomes easier, not harder, with Brent at $95 supported by flow rather than $103 driven by fear.
Why It Matters
The Iran story has entered a phase where each Trump social media post moves Brent by $2–3. That is not a stable framework for pricing assets — but it is, for now, directionally helpful. If the Pakistan-mediated talks produce a framework agreement by the April 22 ceasefire expiry, the tail risk of a renewed Hormuz closure comes off, and the residual oil premium compresses further. If talks collapse, the Hormuz premium snaps back, and every LATAM story — including today’s Petrobras AGM — must be re-read at $103 Brent rather than $95. For today, the balance of risks is tilted toward de-escalation, which is why the Ibovespa’s 0.46% pullback on Wednesday was shallow rather than severe despite breaking an 11-session winning streak.
Key Watch
Friday Apr 17: Pakistan-mediated US-Iran meeting. Brent daily trajectory. Trump statements cycle. Israel-Lebanon direct talks opening. Ceasefire expiry Apr 22. Iranian state media confirmation or denial. Hormuz shipping insurance rates. Regional proxy activity.
OUTLOOK: EASING
Argentina & Mexico: Adorni on the Defensive, Milei Weighs Congressional Appearance — Mexican Peso Rally Pulls IPC Back Above 69,000
Argentina: Jefe de Gabinete Manuel Adorni to deliver congressional report Wed Apr 29 at Cámara de Diputados under enriquecimiento ilícito investigation (Punta del Este private jet, Caballito apartment at US$230K below market, financing from two retiree lenders); Cámara president Martín Menem: “is going to be spicy, buy popcorn”; Milei may attend session in person; ex-Jefe de Gabinete Francos: “he failed to give his explanations” but “not for me to say if he should resign”; Vozna poll: Milei approval 37.8% (down from Jan peak 44.9%), 61.3% think Adorni guilty and should resign; Adorni resumed ministerial meetings with Sturzenegger on Ley Hojarasca + property reform; public sector cut 65,528 positions (−13%) since Dec 2023. Mexico: IPC closed Wed Apr 15 at 69,634.71 (+1.01%), breaking a three-session losing streak; peso strengthened, dollar fell for second consecutive session to ~$16.80-17.00 retail range; BMV in line with US gains; AMIB April consensus raises YE IPC forecast to 72,427 points (Economatica highest at 75,726)
What Happened
- —Adorni at the brink: Despite recommendations from allies, the ruling bloc has decided to receive Jefe de Gabinete Manuel Adorni — currently investigated for presumed illicit enrichment — in the Cámara de Diputados on Wednesday April 29 to deliver his management report. The ruling bloc does not rule out that President Javier Milei himself attends the session, a signal that the libertarians will not abandon Adorni and are prepared to counter-attack. Cámara president Martín Menem, speaking at a Buenos Aires bar association lunch, promised: “it’s going to be spicy, buy popcorn.” Former Jefe de Gabinete Guillermo Francos said Adorni “failed to give his explanations” but added “I am not one to say whether he should or should not resign.” The investigation, led by federal prosecutor Gerardo Pollicita, centres on a Punta del Este private jet trip and a Caballito apartment acquired in November 2025 at a declared value of US$230,000 — differing from market prices — financed by two retirees who are due to testify. Behind the scenes, Adorni has resumed ministerial coordination, meeting with Desregulación Minister Federico Sturzenegger on the Ley Hojarasca and property reform package, with the Ministerio de Desregulación reporting 65,528 public-sector positions eliminated since December 2023 — a 13% reduction.
- —Mexico’s rebound: The Bolsa Mexicana de Valores advanced 1.01% on Wednesday April 15 to reach 69,634.71 units, breaking a three-session losing streak and aligning with US equity gains. The peso strengthened for a second consecutive session against a weakening dollar, with retail rates near $16.80–17.00. The rebound was broad-based, reflecting the global risk-on tone triggered by Trump’s Iran signalling rather than any Mexico-specific catalyst. Looking ahead, the AMIB April consensus survey (15 analyst teams) raised the year-end IPC forecast to 72,427 points from 72,141 previously, with Economatica the most optimistic at 75,726 and Banamex at 75,000. But the structural narrative remains weak: the IMF’s 0.6% 2025 growth forecast and persistent tariff pressure mean Mexico is a tactical rebound trade, not a structural revaluation story like Brazil.
Why It Matters
Argentina’s Adorni story is no longer a scandal — it is a governance question. The Vozna polling showing 61.3% of Argentines believe Adorni is guilty and should resign, combined with Milei’s approval falling to 37.8% from January’s 44.9% peak, suggests the political cost of defending the Chief of Staff is rising faster than the cost of replacing him. If Milei does attend the Congressional session on April 29, the session becomes a referendum on the government’s direction, not merely on one minister’s ethics — and that is precisely what the opposition wants. Mexico’s IPC rebound, by contrast, is genuinely driven by external factors (dollar weakness, global risk-on, peso strength), which makes it more fragile: the same mechanism that lifted the index Wednesday will reverse instantly if Pakistan talks fail.
Key Watch
Wed Apr 29: Adorni congressional report + Milei attendance decision. Sunday Apr 20: Adorni witness testimony (real estate agents). Ley Hojarasca legislative path. Milei approval trajectory. Mexico peso-IPC correlation. AMIB outlook revisions. US tariff negotiations progress. Banxico signalling.
RISK: ELEVATED
Regional Snapshot
|
Chile & Colombia In Santiago, the S&P IPSA retreated to 11,311.66 (−0.2%) in Wednesday’s session, after Tuesday’s 1.8% advance in a fifth consecutive session of gains left the index at its highest level since early February. The pullback was mild and broad-based — a consolidation rather than a reversal — as traders booked profits ahead of Friday’s potential US-Iran breakthrough and the April 22 ceasefire expiry. Copper prices and peso strength continue to offset the energy-import headwind that had weighed on the index earlier in April. COLCAP holds near 2,359 (+0.52% at Tuesday’s close), with Ecopetrol the principal driver as Brent trades around $95. Petro’s threats to withdraw Colombia from the Comunidad Andina, pivoting toward Mercosur and the Caribbean, remain a structural risk but have not moved prices this week. The Ecuador trade dispute (100% tariffs, oil pipeline suspensions, gasoline Extra above $3) continues unresolved. Previous Pulse editions. |
Argentina, Bolivia, Crypto & IMF Follow-through In Buenos Aires, the Merval continues to trade in the 2.93–2.96 million range as the Adorni enriquecimiento ilícito case dominates headlines and polling shows Milei’s approval down 7 points from January. The Ley Hojarasca and desregulación reforms remain the government’s counter-narrative. In La Paz, Bolivia holds gubernatorial runoffs Sunday April 19 in six departments — Santa Cruz, La Paz (cancelled after NGP declination), Tarija, Beni, Oruro, and Chuquisaca — with Cochabamba still awaiting final cómputo; Pando and Potosí already resolved in the first round. The IMF’s Spring Meetings divergence (Brazil anchor, Argentina disinflation 30.4% in 2026, Mexico 0.6%, Bolivia −3.3%, Venezuela 387% inflation) continues to shape allocator positioning. BTC holds around $74,800 after a brief peak near $76,088 Tuesday; Bitcoin fell nearly 3% Wednesday as investors booked profits following the sharp rally on renewed US-Iran peace hopes. Previous Pulse editions. |
Markets at a Glance — Wednesday April 15 Close
| Index | Wed Close | Change | Context |
|---|---|---|---|
| Ibovespa | 197,737.61 | −0.46% | 11-streak broken after 18 nominal records YTD; month +5.48%, YTD +22.72%; options expiry |
| USD/BRL | ~4.99 | −0.03% | Holds below 5.00 (lowest since Mar 2024); real rates ~9% + R$56.5B foreign inflows YTD |
| IPSA (Chile) | 11,311.66 | −0.20% | Consolidates after Tue’s +1.8%, 5th straight up day; holds near Feb high |
| COLCAP* | ~2,359 | +0.52% | Ecopetrol leads; Brent near $95 supportive; Petro-CAN exit threat unresolved |
| IPC (Mexico) | 69,634.71 | +1.01% | Breaks 3-session losing streak; peso strength + global risk-on; AMIB YE 72,427 |
| MERVAL* | ~2,940,000 | ~flat | Adorni scandal weighs; Apr 29 congressional report; polling shows Milei approval 37.8% |
| BTC/USD | ~74,800 | −2.8% | Profit-taking after Tue peak ~$76,088; ETF inflows continue |
*COLCAP and MERVAL references reflect Tuesday Apr 14 close pending Wednesday confirmation. Brazil data from CNN Brasil, Exame, Seu Dinheiro, Capital News, Dgabc, Borainvestir. Peru from ONPE/RPP/Correo/La República/Trome/TV Perú/Infobae/CNN en Español. Mexico from Investing.com/La Voz de Michoacán/TV Azteca/El Cronista. Chile from Diario Financiero/Emol. Argentina from APFDigital/El Cronista/Metadata/El Destape. Crypto from Fortune/CoinDesk/Yahoo Finance/CoinSpectator. Iran from Reuters/AP via Diario Financiero/Capital News. Previous Pulse editions.
The Week Ahead
| Date | Event | Country |
|---|---|---|
| Thu Apr 16 — TODAY | PETROBRAS AGM: R$8.1B dividend vote + Mello chairmanship + capex signalling at ~$95 Brent | Brazil |
| Fri Apr 17 | US-Iran Pakistan-mediated talks (per Reuters/AP); Brent pivot | Global |
| Sun Apr 19 | Bolivia gubernatorial runoffs — six departments (Santa Cruz, Tarija, Beni, Oruro, Chuquisaca + La Paz status); Cochabamba pending | Bolivia |
| Mon Apr 20 | Adorni witness testimony — real estate financiers (Rucci, Trimarchi) | Argentina |
| Tue Apr 22 | Iran ceasefire expires; Petrobras dividend cut-off (B3); Ley Hojarasca + PCT vote in Argentina | Global / Arg |
| Mon-Tue Apr 28–29 | COPOM Selic decision (at 14.75%); Adorni congressional report Apr 29 with potential Milei attendance | Brazil / Arg |
| ~May 15 | Peru: JNE official segunda vuelta confirmation (Keiko vs Sánchez or López Aliaga) | Peru |