Ibovespa Rises as Petrobras and Axia Gain

The Ibovespa rose over 0.5% to trade close to 168,000 on Tuesday, supported by heavyweight stocks. Petrobras rose nearly 1% as oil prices climbed after US President Donald Trump said he was not interested in extending the interim peace deal with Iran. Axia (+0.5%) announced the results of its second Class C preferred share buyback operation, totaling approximately R$2 billion. Itaú BBA reiterated its buy recommendation for the stock. Rede D’Or added about 1%, while WEG gained 0.5%. Major banks traded below the flatline, pressured by rising global bond yields as energy-driven inflation concerns persisted. Meanwhile, Casas Bahia (-7%) is seeking a R$1 billion loan and betting on its marketplace after filing for judicial recovery. The company’s shares were halted several times during Monday’s session amid sharp volatility and closed down 33%.

The Ibovespa edged 0.1% lower to close at 166,784 on Monday, marking a tenth consecutive session of losses. Tensions in the Middle East persisted, with little sign of a near-term resolution. Inflationary pressures increased amid higher oil prices, weighing on financials and the broader index. Itaú shed 1.6%, Bradesco lost 1.9% and Banco do Brasil retreated 2.3%. The IBC-Br showed a slightly larger-than-expected decline, falling 0.6%, its biggest drop since May 2025. The data added to evidence of a slowing economy. Casas Bahia (-33.3%) filed for judicial recovery following a multibillion-real loss in 2Q26. Meanwhile, a Quaest poll released late Friday showed President Lula and Senator Flávio Bolsonaro in a technical tie in a potential second round of the October presidential election. The same scenario was indicated by the BTG/Nexus poll. Previous polls had shown Lula ahead of Flávio Bolsonaro, who is seen as more fiscally strict, in a potential second round.

The Ibovespa rose more than 0.5% to trade close to 168,000 on Monday, rebounding from a seven-month low with support from the energy sector. Petrobras added over 1% as oil prices rose amid persistent tensions in the Middle East. Prio (+1%) and Brava (+1%) also gained. Meanwhile, a Quaest poll released late Friday showed President Lula and Senator Flávio Bolsonaro in a technical tie in a potential second round of the October presidential election. The same scenario was indicated by the BTG/Nexus poll. Previous polls had shown Lula ahead of Flávio Bolsonaro, who is seen as more fiscally strict, in a potential second round. Heavyweight shares also supported the index, with Axia and Sabesp rising over 1% and WEG adding nearly 1%. In contrast, financials traded lower amid energy-driven inflation concerns. Itaú, Banco do Brasil and Itaúsa shed about 0.5%, while Bradesco lost 1%. Vale edged lower despite higher iron ore prices.