Brazil’s Ibovespa Rises 1% Near 168,000 as Wall Street Rebounds
The Ibovespa rose 1% Friday, with gains across major banks and utilities. Sabesp advanced nearly 5% after reporting a 9% year-over-year increase in Q3 revenue.
The Ibovespa rose 1% to hover near 168,000 on Friday as spillover pressure from the previous session’s tech-driven US rout eased and Wall Street rebounded. The index was further supported by a JPMorgan report noting that Q3 results reinforced the resilience of emerging-market companies despite the recent correction in AI-related stocks and global macroeconomic uncertainties. JPMorgan said the earnings season continues to support the outlook for emerging-market equities and maintained above-average exposure to countries such as Brazil. Meanwhile, Democratic wins in the US could create an opportunity for Brazil in negotiations over US trade tariffs.
Major banks posted gains, with Itaú, Bradesco and BB up more than 2% each. Utilities also advanced, with Sabesp jumping nearly 5% after reporting a 9% annual rise in Q3 revenue. Other notable gainers included Rede D’Or (+3%) and Embraer (+1%).