The Ibovespa rose more than 0.5% on Tuesday, surpassing 173,000 points, driven by gains in banking, mining, and utility shares. Among financials, Itaú and Bradesco each advanced around 1%, while in the utilities sector Auren and Sabesp climbed more than 1.5%. Vale gained over 2%, tracking the rise in iron ore prices.
Investors continued to weigh a US proposal for an additional 25% tariff on a wide range of Brazilian imports. Officials in President Lula’s administration maintain that a negotiated solution is possible before the measure comes into force and expect talks between the two countries to make progress in the coming weeks, despite a US report accusing Brazil of unfair trade practices.
On the geopolitical front, US President Trump said that negotiations with Iran were ongoing, even as tensions between Israel and Lebanon persisted, clouding the outlook for a broader regional accord. Petrobras, in turn, fell nearly 2%, pressured by a pullback in oil prices from recent highs.
