Ibovespa rebounds above 169,000 as global yields ease
Brazil’s Ibovespa adds more than 1.5% above 169,000 on Wednesday after eleven consecutive days of losses as global bond yields stabilize.
The Ibovespa added more than 1.5% to trade above 169,000 on Wednesday, set to rebound from eleven consecutive days of losses amid a stabilization in global bond yields.Yields in major economies declined after the US Treasury said it would double long-term security buybacks.
Financials posted gains, with Itaú, Bradesco, Itaúsa and Banco do Brasil advancing about 2% each.
Petrobras gained over 1.5% as oil futures rose for a fourth consecutive session as prospects for a deal to end the conflict in the Middle East diminished.
Vale rose nearly 2% amid iron ore supply concerns following the failure of wage negotiations between BHP and workers in Port Hedland.
Axia added more than 2% after the results of its share buyback operation and a buy recommendation from Itaú BBA.
Embraer gained nearly 0.5% after Itaú BBA raised its price target.
Other notable performers included Ambev (+2%), Rede D’Or (+1.5%) and CSN Mineração (+4%).