Ibovespa Rises Ahead of New Election Poll

2026-09-03 13:37 By Isabela Couto 1 min. read

The Ibovespa gained over 1.5% to trade above 188,000 on Thursday, extending the previous session’s rally and heading for a 12th consecutive session of gains ahead of a new election poll.

Datafolha’s poll is due later Thursday, following a Quaest poll released on Wednesday that showed President Lula and Senator Flávio Bolsonaro, seen by markets as more fiscally restrictive amid elevated yields and weak business activity, in a technical tie in a potential runoff.

Shares of major banks rose, with Itaú up 1.5%, Bradesco gaining about 1% and Banco do Brasil advancing nearly 2%.

Among other financials, Itaúsa rose nearly 2% and B3 gained almost 3%.

Utilities also advanced, with Axia and Sabesp adding around 1.5%.

Petrobras rose nearly 1.5% as oil prices climbed amid escalating Middle East tensions.

Vale gained nearly 1% on higher iron ore prices.

Among steelmakers, CSN soared near 20% after announcing that Benjamin Steinbruch would step down as CEO and be replaced by Fabio Schvartsman.



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Ibovespa Rises Ahead of New Election Poll
The Ibovespa gained over 1.5% to trade above 188,000 on Thursday, extending the previous session’s rally and heading for a 12th consecutive session of gains ahead of a new election poll. Datafolha’s poll is due later Thursday, following a Quaest poll released on Wednesday that showed President Lula and Senator Flávio Bolsonaro, seen by markets as more fiscally restrictive amid elevated yields and weak business activity, in a technical tie in a potential runoff. Shares of major banks rose, with Itaú up 1.5%, Bradesco gaining about 1% and Banco do Brasil advancing nearly 2%. Among other financials, Itaúsa rose nearly 2% and B3 gained almost 3%. Utilities also advanced, with Axia and Sabesp adding around 1.5%. Petrobras rose nearly 1.5% as oil prices climbed amid escalating Middle East tensions. Vale gained nearly 1% on higher iron ore prices. Among steelmakers, CSN soared near 20% after announcing that Benjamin Steinbruch would step down as CEO and be replaced by Fabio Schvartsman.
2026-09-03
Ibovespa Jumps to Near Four-Month High
The Ibovespa jumped 3% to close at 185,205 on Wednesday, nearing a four-month high after a new election poll showed President Lula and Senator Flávio Bolsonaro in a technical tie. Both candidates recorded 42% and 41% of voting intentions, respectively, in a potential runoff. Markets view Bolsonaro as more fiscally restrictive amid elevated yields and weak business activity. Bond yields fell after GDP data showed a contraction in consumer spending, while industrial production rebounded less than expected. Financials rallied, with Banco do Brasil up 4.9% and Itaú 3.8%. B3 gained 3.8% after tax assessments totaling R$2.2 billion were canceled. Utilities also gained, Axia rose 3.4% and Sabesp 4.2%. Vale gained 3.2% despite lower iron ore prices, while Petrobras added 2.8% as oil rebounded. Magazine Luiza jumped 16.9% on a Mercado Livre partnership, while Azzas surged 11.3% after agreeing to split its businesses into two listed companies.
2026-09-02
Ibovespa Rises Following New Election Poll
The Ibovespa rose nearly 1.5% to trade around the 182,000 mark on Wednesday following the release of a new election poll. A Quaest poll on voting intentions for president in the October election showed President Lula and Senator Flávio Bolsonaro, viewed by markets as more fiscally restrictive amid elevated domestic yields and weak business activity, in a technical tie. Lula had 42% of voting intentions in a potential runoff versus 41% for Flávio Bolsonaro. Meanwhile, Brazilian bond yields declined after GDP data showed a sharp contraction in consumer spending. Also, oil prices pulled back from recent peaks following a rally driven by escalating Middle East tensions, offering some relief to credit-sensitive stocks. However, energy costs and yields remain elevated. Major banks gained, with Banco do Brasil up nearly 1%. Utilities also advanced, with Sabesp rising over 1% and Eneva adding more than 2%. Petrobras fell 0.5% as oil prices declined.
2026-09-02