Ibovespa climbs for fourth straight session
Brazil’s Ibovespa rises 0.5% to 171,907, its fourth consecutive gain after eleven straight loss days, led by Vale and banks while Petrobras falls and Braskem drops on restructuring.
The Ibovespa added 0.5% to close at 171,907 on Monday, posting its fourth consecutive gain following eleven consecutive days of losses.
Vale surged 2.8%, supported by higher iron ore futures in China amid new signs of stimulus from Beijing and expectations of stronger demand ahead of the peak construction season in September.
Banks also gained as the Focus Survey forecast for the Selic rate at the end of 2026 remained at 13.75% for the third consecutive week.
Banco do Brasil gained 0.9% and B3 added 2.4%.
Bradesco (+0.2%) and Itaú (+0.3%) were little changed after central bank chief Gabriel Galípolo warned of rising household debt and cautioned against further stimulus to credit and consumption.
Petrobras shed 2.3% as oil prices pulled back ahead of US sanctions on Iran.
Braskem (-6.7%) confirmed an out-of-court restructuring.
B3 said the company would be removed from its indexes.