Ibovespa Gains as Markets Await Selic Decision

The Ibovespa edged down 0.1% to close at 177,726 on Wednesday as investors awaited the BCB's interest rate decision and assessed another round of corporate earnings. Markets expect Copom to cut the Selic rate by 25 basis points to 14.0%, with attention focused on the accompanying statement for clues on whether another cut could follow in September. Financial stocks were mostly lower, with Bradesco down 0.8% and BB Seguridade losing 0.9%. In contrast, Itaú gained 0.7% after reporting a 7.8% annual increase in managerial recurring net income, in line with forecasts. Gerdau rebounded 1.7% after posting stronger-than-expected 2Q26 results, while RD Saúde led gains, rising 5.9% following its earnings release. Petrobras fell 1.3% as oil prices declined. Bradesco, Axia (0%), Auren (-1.1%), Brava (+2.6%), and Engie (-1%) are set to report earnings after the close.

The Ibovespa rose nearly 1% to trade above 179,000 on Wednesday as investors awaited the BCB's interest rate decision and assessed another round of corporate earnings. Later today, Copom is expected to cut the Selic rate by 25 basis points from the current 14.25%. Investors will closely watch the accompanying statement for signals on whether another rate cut could follow in September. Financial stocks led gains, with Itaú rising 2% after reporting a 7.8% annual increase in managerial recurring net income, in line with forecasts. Bradesco gained near 1% ahead of its earnings release after the close. Itaúsa gained 2% and Banco do Brasil advanced 1%. In contrast, Gerdau fell more than 5% despite posting stronger-than-expected 2Q26 results. Axia (+1%), Auren (+1.5%), Brava (-1%), and Engie (+1%) are also set to report earnings after the bell.

The Ibovespa edged down 0.1% to close at 177,895 on Tuesday, pressured by losses in financial and energy stocks. Petrobras fell 1.3% as crude oil prices declined on optimism that the US and Iran could reach an agreement to reopen the Strait of Hormuz. Financials weakened ahead of Wednesday's Copom interest rate decision, with Itaú down 2.5%, Bradesco losing 1.8%, and Itaúsa retreating 1.7%. In contrast, BB Seguridade rose 1.7% after reporting in-line 2Q26 results. Investors also awaited Itaú's earnings, due later in the day. Telecom stocks underperformed, with Vivo down 2% and TIM falling 2.3%. Meanwhile, Vale gained 2.2% as iron ore prices edged higher, while Gerdau rose 3.1% ahead of its earnings. RD Saúde (+3%) and Prio (-0.1%) are also set to report results later today. WEG (+2%) and Sabesp (+1.6%) were among the other gainers.