FX.co ★ Brazil Stocks Rise Amid Inflation Data and Bolsonaro Trial

On Wednesday, the Ibovespa index rose by 0.8%, surpassing 142,500 points, buoyed by the performance of banks and major commodity companies as investors evaluated inflation data and political uncertainty. The annual headline inflation rate slightly decreased to 5.13%, narrowly missing the market forecast of 5.1%, and remained well above the central bank's target of 4.5%, causing rate futures to rise. Concurrently, the First Panel of the Supreme Federal Court resumed the trial concerning former President Bolsonaro's coup attempt. Minister Luiz Fux was expected to cast his vote, with previous convictions having been made by case rapporteur Alexandre de Moraes and Minister Flávio Dino. In corporate news, leading banks experienced gains: Itaú Unibanco rose by 0.4%, Bradesco by 0.6%, and Banco do Brasil by 2.7%. Additionally, companies such as Vale saw a 1.4% increase, Petrobras rose by 0.6%, Ambev by 0.8%, Magazine Luiza by 4.6%, and WEG by 0.9%.