Ibovespa Rises to Fresh Record

2026-04-09 15:00 By Isabela Couto 1 min. read

The Ibovespa rose 1% to a record 194,000, lifted by gains across energy, utilities, and major banks.

Oil prices surged amid Strait of Hormuz uncertainty, boosting Petrobras and PRIO, both up over 3%, while Sabesp gained 3% on its 31.6% investment hike this year.

Major banks also contributed to the rally as investors expect the US-Iran conflict to not escalate much further as it was previously believed, easing stagflation fears.

Itaú gained 0.5% and Banco do Brasil near 1%.

JPMorgan and Morgan Stanley’s positive assessments reinforced confidence.

JPMorgan highlights Brazil’s higher beta as higher commodity prices improve the outlook for inflows, while Morgan Stanley maintains an overweight stance, citing Brazilian equities as core holdings in its Latin American portfolio.

Both brokers see strong energy-sector potential, Morgan Stanley holds Petrobras as its largest Latin American position, and JPMorgan flags it and PRIO as beneficiaries of tighter global supply.



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Ibovespa Rises to Fresh Record
The Ibovespa rose 1% to a record 194,000, lifted by gains across energy, utilities, and major banks. Oil prices surged amid Strait of Hormuz uncertainty, boosting Petrobras and PRIO, both up over 3%, while Sabesp gained 3% on its 31.6% investment hike this year. Major banks also contributed to the rally as investors expect the US-Iran conflict to not escalate much further as it was previously believed, easing stagflation fears. Itaú gained 0.5% and Banco do Brasil near 1%. JPMorgan and Morgan Stanley’s positive assessments reinforced confidence. JPMorgan highlights Brazil’s higher beta as higher commodity prices improve the outlook for inflows, while Morgan Stanley maintains an overweight stance, citing Brazilian equities as core holdings in its Latin American portfolio. Both brokers see strong energy-sector potential, Morgan Stanley holds Petrobras as its largest Latin American position, and JPMorgan flags it and PRIO as beneficiaries of tighter global supply.
2026-04-09
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The Ibovespa soared over 2% to trade above 193,000 on Wednesday on news of a two-week ceasefire in the US-Iran war. Oil prices fell amid expectations of restored oil and gas flows through the Strait of Hormuz. The development eased concerns that an energy shock would magnify inflation and force the central bank to maintain restrictive rates, supporting the stock outlook. Lower bond yields reduced credit concerns and supported financial stocks, while lower oil prices pressured energy producers. Bradesco surged nearly 6%, while Itaú and Banco do Brasil each gained about 5%. Also, Vale advanced over 3% despite lower iron ore prices, WEG rose 3.6% and Rede D'Or gained 4.8%. In contrast, Petrobras lost nearly 1%.
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Ibovespa Mostly Flat Ahead of Trump's Deadline
The Ibovespa fluctuated on Tuesday before closing with a marginal gain of 0.1% at 188,259 as investors monitored escalating Middle East tensions. Iran rejected a US ceasefire proposal ahead of a deadline set by President Trump who warned of severe consequences if a deal remains elusive. Crude oil prices held around 2022 highs which amplified stagflation concerns. Banking stocks faced heavy pressure with Banco Bradesco sliding over 1% and Banco do Brasil also retreating as future interest rates climbed. Suzano shares plummeted over 6% after the company missed a decarbonization target linked to its sustainability bonds leading to increased debt costs. Real estate firms like MRV and Cyrela also posted sharp losses exceeding 5% amid the rising yield environment. Conversely Petrobras and Vale found support in higher commodity prices while select utilities and consumer staples like Raia Drogasil managed to end the session in positive territory.
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