Ibovespa Edges Higher on Petrobras Gains
The Ibovespa edged higher toward 205,000 on Thursday, supported by gains in the energy sector. Petrobras rose nearly 2% as oil prices surged on reports that the US is planning new strikes against Iran, risking the recent rebound in Middle Eastern oil exports. Meanwhile, the financial sector was mixed amid an unfavorable external backdrop and ahead of the first presidential runoff poll following the first round. Global yields also extended their rally as surging oil prices intensified inflationary pressures, while expectations of a hawkish Fed added to pressure on credit-sensitive stocks. Datafolha is due to release the first poll for the presidential runoff following Sunday’s first-round election, in which Flávio Bolsonaro finished ahead of Lula, contrary to most polls. The result pushed the index to an all-time high on Monday, led by financial stocks. On Thursday, Itaú and Bradesco fell about 1% each, while B3 gained 1% and Caixa and BB Seguridade rose nearly 0.5%.
The Ibovespa edged higher toward 205,000 on Thursday, supported by gains in the energy sector. Petrobras rose nearly 2% as oil prices surged on reports that the US is planning new strikes against Iran, risking the recent rebound in Middle Eastern oil exports. Meanwhile, the financial sector was mixed amid an unfavorable external backdrop and ahead of the first presidential runoff poll following the first round. Global yields also extended their rally as surging oil prices intensified inflationary pressures, while expectations of a hawkish Fed added to pressure on credit-sensitive stocks.
Datafolha is due to release the first poll for the presidential runoff following Sunday’s first-round election, in which Flávio Bolsonaro finished ahead of Lula, contrary to most polls. The result pushed the index to an all-time high on Monday, led by financial stocks. 5%.