Ibovespa climbs again, extending winning streak to ten sessions
Ibovespa rose 1.3% to close at 179,722 on Tuesday, extending a ten-session winning streak amid renewed expectations for continued Selic easing. Major banks and Petrobras advanced; Casas Bahia surged 36.4%.
The Ibovespa rose 1.3% to close at 179,722 on Tuesday, extending its winning streak to ten sessions amid renewed expectations for continued Selic easing.
Brazil’s GDP grew more than expected in 2Q26, driven mainly by agriculture, while the detailed breakdown was weaker, signaling that economic momentum is fading despite a tight labor market and short-term demand stimulus measures.
For the BCB, the data suggest that interest rates have already done much of the work, leaving room for further Selic cuts.
Major banks advanced, with Banco do Brasil up 2.3%, Bradesco 1.2% and Itaú 0.9%.
B3 gained 2.5% despite lower broker estimates, as its buy recommendation was maintained.
Petrobras jumped 4.1%, tracking higher oil prices and benefiting from another monthly production record in July.
Casas Bahia surged 36.4%, bringing its two-session gain to 125% after confirming the anticipation of effects from its judicial reorganization filing.