Ibovespa Climbs on Mining and Utility Gains

2026-06-02 21:10 By Isabela Couto 1 min. read

The Ibovespa rose 1.2% to close at 174,197 on Tuesday, supported by gains in mining, steel, utility, and banking stocks.

Vale advanced 4% as iron ore prices increased.

Utilities also outperformed, with Axia up 2.4%, Sabesp gaining 1.5%, and Eneva rising 1.9%.

In the financial sector, Bradesco added 1.5% and Itaúsa gained 1%.

Steelmakers rallied after revisions to US steel tariffs, with CSN jumping 8.8%, Gerdau rising 5.5%, and Usiminas surging 8.6%.

Rede D'Or gained 1.1% after announcing an expansion plan.

Investors continued to assess the US proposal to impose an additional 25% tariff on a range of Brazilian imports.

Members of President Lula’s administration expressed confidence that a negotiated solution could be reached before the measure takes effect, with talks expected to advance in the coming weeks.

Markets also monitored developments in the Middle East as conflicting signals emerged regarding Iran's willingness to negotiate with the US.



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Ibovespa Climbs on Mining and Utility Gains
The Ibovespa rose 1.2% to close at 174,197 on Tuesday, supported by gains in mining, steel, utility, and banking stocks. Vale advanced 4% as iron ore prices increased. Utilities also outperformed, with Axia up 2.4%, Sabesp gaining 1.5%, and Eneva rising 1.9%. In the financial sector, Bradesco added 1.5% and Itaúsa gained 1%. Steelmakers rallied after revisions to US steel tariffs, with CSN jumping 8.8%, Gerdau rising 5.5%, and Usiminas surging 8.6%. Rede D'Or gained 1.1% after announcing an expansion plan. Investors continued to assess the US proposal to impose an additional 25% tariff on a range of Brazilian imports. Members of President Lula’s administration expressed confidence that a negotiated solution could be reached before the measure takes effect, with talks expected to advance in the coming weeks. Markets also monitored developments in the Middle East as conflicting signals emerged regarding Iran's willingness to negotiate with the US.
2026-06-02
Ibovespa Rises as Banks and Vale Post Gains
The Ibovespa gained over 0.5% to trade above 173,000 on Tuesday, supported by gains in banking, mining, and utility stocks. Itaú and Bradesco both added 1%, while Auren and Sabesp advanced more than 1.5%. Vale rose over 2% as iron ore prices increased. Investors continued to assess the US proposal to impose an additional 25% tariff on a range of Brazilian imports. Members of President Lula’s administration believe a negotiated solution can be reached before the measure takes effect, with expectations that discussions between the two countries will advance in the coming weeks despite a US report alleging unfair trade practices by Brazil. On the geopolitical front, US President Trump said talks with Iran were ongoing, although tensions between Israel and Lebanon continued to cloud prospects for a broader regional agreement. Petrobras, meanwhile, shed nearly 2% as oil prices pulled back from recent highs.
2026-06-02
Ibovespa Falls as Middle East Tensions Lift Oil Prices
The Ibovespa lost 0.9% to close at 172,197 on Monday as signs of renewed escalation in the Middle East hurt risk appetite and revived concerns about inflation and interest rates. Although US President Donald Trump said Israel and Hezbollah had agreed to stop attacking each other in Lebanon and that talks with Iran were continuing, fresh violence threatened efforts to end the conflict. Oil prices spiked after reports that US-Iran negotiations had stalled, fueling stagflation fears and pushing bond yields higher. Banks led losses, with Itaú down 1.7%, Bradesco shedding 1.1%, and Itaúsa losing 1.2%. Meanwhile, the S&P Global Brazil Manufacturing PMI fell to 49.1 in May from 52.6 in April, signaling a renewed contraction in factory activity and weighing on industrial stocks such as WEG, which dropped 2.5%. Utilities also pressured the index, with Auren down 2.4%. In contrast, Petrobras gained 0.9%, supported by higher oil prices.
2026-06-01