Ibovespa Rises on Energy and Finance Gains

The Ibovespa rose 0.5% to close at 186,503 on Tuesday, supported by Petrobras and financial heavyweights. Petrobras jumped 3.1% as oil prices extended their rally amid supply disruptions in the Middle East after Saudi Arabia shut down a key pipeline bypassing the Strait of Hormuz on Monday. Meanwhile, markets expect the Selic easing cycle to continue on Wednesday, with the policy rate forecast to fall to 13.75% from 14%, as recent inflation data remained within the BCB’s tolerance range. Itaú and Itaúsa rose 0.8% each, while BB Seguridade gained 1%. Gerdau jumped 3.1% and Usiminas 3.3% after Safra opened a recommendation for a long-short trade involving a long position in Gerdau and a short position in Usiminas. Gerdau was also recognized as one of the world’s most trusted companies in the “World’s Most Trustworthy Companies 2026” ranking for the fourth consecutive year.

The Ibovespa edged higher to trade close to 186,000 on Tuesday, lifted by gains in Petrobras. Oil prices extended a rally amid supply disruptions in the Middle East after Saudi Arabia shut down a key pipeline bypassing the Strait of Hormuz on Monday. Petrobras gained more than 1%. Meanwhile, markets expect the Selic easing cycle to continue on Wednesday, with the rate forecast to fall to 13.75% from 14%, as recent inflation data remained within the BCB’s tolerance range. In contrast, the US Fed is expected to deliver a 25-basis-point rate hike. Financial stocks were mostly muted, while utilities traded largely higher, with Sabesp rising more than 1%. Political uncertainty remained elevated amid the ongoing Supreme Court crisis, while new election polls confirmed a close presidential race between President Lula and Flávio Bolsonaro.

The Ibovespa fell 0.9% to close at 185,501 on Monday amid a rebound in oil prices and persistent political uncertainty. Oil prices rose after Saudi Arabia shut down a crucial pipeline that bypasses the Strait of Hormuz. A diplomatic meeting between Iran and Gulf Arab states to discuss the situation in Hormuz, originally scheduled for Monday in Oman, was abruptly postponed following the pipeline attack. Renewed energy-driven inflationary pressures ahead of interest-rate decisions by the BCB and the Fed weighed on credit-sensitive stocks. Major banks posted losses, with Itaú down 0.9% and Bradesco down 1.4%. Utilities also closed lower, with Eneva losing 1.5%. Political uncertainty remained elevated amid the ongoing Supreme Court crisis, while new election polls confirmed the close race for the presidency between President Lula and Flávio Bolsonaro. Brazil’s stock-market volatility index jumped 5.24%. Vale fell 3.5% as iron ore prices in China closed lower.