Ibovespa gains ahead of new Datafolha election poll
Ibovespa rose over 1.5% to trade above 188,000, extending a rally ahead of a new Datafolha poll. Banks, utilities and Petrobras rose; CSN surged after CEO Benjamin Steinbruch announced a step-down.
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.