Ibovespa jumps more than 1.5% after holiday as oil lifts Petrobras
Brazil’s Ibovespa rose more than 1.5% to trade near 188,000 after Monday’s holiday. Petrobras gained more than 1.5% as oil surged on attacks on Saudi energy infrastructure. Vale rose about 2% on China iron-ore strength.
5% to trade close to 188000 on Tuesday after Monday’s holiday, with gains spreading across the benchmark. 5% as oil prices surged after attacks on energy infrastructure in Saudi Arabia amid renewed hostilities in the Middle East. Vale gained about 2% as iron ore prices in China rose on lower shipments and expectations of a seasonal recovery in Chinese demand. A BTG/Nexus poll pointed to a technical tie between Flávio Bolsonaro and President Lula in a potential presidential runoff, while Flávio moved into a numerical lead of one percentage point.
On Monday, a Quaest poll also showed the pair tied at 41% in a second-round scenario. Markets view Flávio Bolsonaro as more fiscally restrictive amid elevated yields and weak business activity. 5%. Utilities also firmed, with Axia gaining nearly 2%.
WEG and Rede D’Or both rose about 2%.