Ibovespa Climbs as Global Stocks Rebound

The Ibovespa gained 1.2% to close at 172,742 on Thursday, tracking the positive tone across global equity markets. A rebound in major chipmakers lifted global stocks, while declining oil prices helped improve risk sentiment as investors looked past renewed hostilities between the US and Iran. Financials led gains, with Itaú and Bradesco rising 1.7%, Itaúsa adding 1.9%, and Banco do Brasil advancing 2.4%. Most utilities also moved higher, with Sabesp up 2.6%. Axia was the exception, falling 2.7% after Goldman Sachs lowered its adjusted EBITDA estimates for the second quarter. Other notable gainers included Rede D'Or (+3.1%) and Embraer (+2.9%). Petrobras fell 1.4% as oil prices retreated from earlier highs.

The Ibovespa gained about 0.5% to trade above 171,000 on Thursday, supported by strength in energy stocks. Petrobras rose nearly 1% as markets reassessed the outlook for global oil supply following renewed US-Iran hostilities. Banking shares also advanced, with Itaú and Bradesco gaining more than 0.5%. Vale rebounded 0.5% despite lower iron ore prices. Other notable gainers included Ambev and Embraer, both up more than 0.5%. Meanwhile, US Trade Representative Jamieson Greer said a decision on US tariffs on Brazilian imports would be made very soon, although negotiations between the two countries remain far apart.

The Ibovespa fell 0.8% to close at 170,653 on Wednesday as renewed US-Iran tensions fueled global risk aversion. President Trump said the memorandum of understanding with Iran to end the conflict was "over," reviving concerns over potential disruptions to global energy supplies. Higher oil prices renewed fears of energy-driven inflation and higher interest rates, weighing on financials and the broader market. Itaú fell 1.3% and Bradesco lost 0.7%. Vale dropped 4.6% after a hearing on the USTR's proposed 25% tariff on Brazilian goods concluded on Tuesday. The company was also pressured by the announcement of the immediate resignation of Chairman Daniel Stieler. Other exporters traded lower, with Embraer down 3%. In contrast, Petrobras gained 3.1% as higher oil prices boosted the energy sector.