FX.co ★ Brazilian Stocks Rally Close to Record High

The Ibovespa index saw an increase of over 1%, reaching close to the 163,500 mark on Tuesday, edging nearer to its all-time high. This rise was bolstered by strong performances in the banking sector and upbeat corporate developments across various industries. Multiplan experienced a 2% increase following the sale of a 10% share in BH Shopping, while PRIO gained 2% in response to a 45% rise in fourth-quarter production. Financial stocks showed notable strength, with Itaú appreciating by 1% and Bradesco advancing by 1.5%. Other major companies also saw gains, with WEG adding 1%, Rede D’Or increasing by 2%, and Axia rising by 2%. Conversely, major commodities players Vale and Petrobras remained stable after recording gains the previous day.