Ibovespa Advances as Central Bank Flags Easing Rates

2026-01-29 13:51 By Isabela Couto 1 min. read

The Ibovespa rose more than 0.5% to trade above 185,500 on Thursday, hitting a fresh record as investors assessed the central bank’s monetary policy decision.

Markets digested signals that the central bank will start a rate-cutting cycle in March, alongside a heavy flow of economic data and an interview with Finance Minister Fernando Haddad.

Rate expectations were mostly lower after the Copom meeting, while banking stocks advanced, with Itaú up 1%, Bradesco 0.4%, and Banco do Brasil 1.4%.

Petrobras jumped more than 2% as oil prices surged over 3% after US President Donald Trump warned Iran that “time is running out” and said a “massive armada” could be deployed if Tehran fails to agree to a nuclear non-proliferation deal.

Vale gained more than 1% on higher iron ore prices, as did steel makers Gerdau (+0.5%), and CSN (+0.6%).

Utilities also advanced, with Eletrobras up 0.5%.

Elsewhere, WEG was up 0.6%.



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