Ibovespa Sets New Record High

2026-02-24 21:25 By Felipe Alarcon 1 min. read

The Ibovespa rose 1.4% to close at a record 191,490 on Tuesday, as markets shrugged off earlier volatility from US trade policy shifts.

Petrobras climbed 2.3% on firming global oil prices and strong cash flow outlooks, while the utilities sector surged with COPEL leading at 3.1%.

Consumer sentiment also provided tailwinds after the Focus Bulletin’s annual inflation forecast dropped for the seventh straight week to 3.91%.

In contrast, steelmaker Gerdau fell 2.2% after reporting a 21% decline in 2025 net income to R$3.4 billion, weighed down by record steel imports into Brazil despite strong North American performance.

Meanwhile, retailers were mixed as investors processed the impact of the new 15% US global tariff, though the Brazilian real hit its strongest level since May 2024.

After the bell, market attention shifted to earnings from C&A, GPA, and Iguatemi, while the broader market remains buoyed by expectations of potential interest rate cuts starting in March.



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