FX.co ★ Ibovespa Rises on Copom Outlook

The Ibovespa advanced 0.5% to close at 171,259 on Tuesday, reversing earlier losses and diverging from the sharp selloff on Wall Street as investors digested the latest Copom minutes. According to Banco Central do Brasil, policymakers are weighing both a pause and a resumption of Selic rate cuts as possible paths to return inflation to target. The minutes noted that upside risks to inflation currently outweigh downside risks, while keeping future policy moves open and explicitly data-dependent. Banking stocks outperformed, with Bradesco up 0.9% and Banco do Brasil rising 1.4%. Utilities also traded higher, led by Axia, which climbed 2.6% after news it is preparing a debenture issuance of up to R$1 billion, maturing in 2036. Other notable gainers included Ambev (+1.2%) and WEG (+1.0%). On the downside, Vale dropped 1.9% after its board unanimously called a shareholders’ meeting for July 22 to vote on the removal of chairman Daniel Stieler, following a request from its largest shareholder, Previ.