The Ibovespa advanced 0.3% to 187,953 on Wednesday, as growing optimism over a possible ceasefire in the Middle East fueled a global rally in risk assets. Sentiment improved after President Donald Trump confirmed that Iran had requested a ceasefire and indicated that US military operations could wind down within weeks, provided the Strait of Hormuz is reopened.
These developments pushed WTI crude futures lower, pressuring energy stocks and dragging Petrobras down 4.4%. In contrast, expectations for lower interest rates ahead supported financial shares: Banco do Brasil climbed 2.7%, Santander gained 2%, and Bradesco added 1.6%.
In the industrial space, Vale inched up 0.6%, while Embraer jumped 4.6%, leading sector gains. On the domestic macro front, the Manufacturing PMI rose to 49.0 in March, signaling the slowest pace of contraction in nearly a year, even as input cost inflation remained persistent.
