The arrest of Venezuelan President Nicolás Maduro by the United States is not expected to alter the flow of foreign capital to Brazil in the short term. However, developments in the oil market could have significant indirect impacts on the stock market, said Rodrigo Santoro, head of equity at Bradesco Asset, in an interview with Janela de Mercado , a NeoFeed program that interviews leading fund managers and sell-side and buy-side analysts in Brazil.
According to the manager's view, the eventual recovery of Venezuelan production tends to increase the global oversupply of oil, putting pressure on commodity prices and affecting companies in the energy sector, such as Petrobras.
Despite the uncertain scenario, Santoro is optimistic about the Brazilian stock market in 2026 for three main reasons: the beginning of a cycle of interest rate cuts in Brazil, the interest rate cut in the United States combined with a soft landing for the American economy, and the resumption of global portfolio diversification after years of heavy concentration in the American stock market.
Check out the video above for the manager's full analysis and the companies he sees as best positioned for this scenario.
