Ibovespa Rises on Fiscal Reassurance and US Stocks Rebound
The Ibovespa rose about 1.5% to hover near 168,500 on Friday after President Lula reassured markets on fiscal adjustment and as spillover pressure from the previous session’s tech-driven US rout eased with a Wall Street rebound. Lula reiterated that his government is committed to fiscal responsibility while also considering social responsibility, amid pressure to announce adjustment measures and a drop in Brazilian assets after his late-October reelection. The index was further supported by a JPMorgan report noting that Q3 results reinforced the resilience of emerging-market companies despite the recent AI-stock correction and global macroeconomic uncertainties. JPMorgan said earnings season continues to support the outlook for emerging-market equities and maintained above-average exposure to countries such as Brazil. Gains were broad-based. Sabesp jumped nearly 7% after a 9% annual rise in Q3 revenue, Bradesco rose 3%, BB nearly 4%, and Vale near 2%.
The Ibovespa rose about 1.5% to hover near 168,500 on Friday after President Lula reassured markets on fiscal adjustment and as spillover pressure from the previous session’s tech-driven US rout eased with a Wall Street rebound. Lula reiterated that his government is committed to fiscal responsibility while also considering social responsibility, amid pressure to announce adjustment measures and a drop in Brazilian assets after his late-October reelection. The index was further supported by a JPMorgan report noting that Q3 results reinforced the resilience of emerging-market companies despite the recent AI-stock correction and global macroeconomic uncertainties.
JPMorgan said earnings season continues to support the outlook for emerging-market equities and maintained above-average exposure to countries such as Brazil. Gains were broad-based. Sabesp jumped nearly 7% after a 9% annual rise in Q3 revenue, Bradesco rose 3%, BB nearly 4%, and Vale near 2%.